New report claims Iceland is financially stable Skip to content

New report claims Iceland is financially stable

“Iceland’s economy does have some imbalances that will eventually be reversed, [but] financial fragility is currently not a problem, and the likelihood of a financial meltdown is low,” says a new report commissioned by the Icelandic Chamber of Commerce.

The authors of the report are Dr. Tryggvi Thór Herbertsson, Director of the Institute of Economic Studies and a Professor of Economics at the University of Iceland and Dr. Frederic S. Mishkin, the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University.

The report is available on the website of the Foreign Ministry:

In a short statement on its website, the Foreign Ministry said: “In our view, the report is comprehensive and notable. Further information and free copies can be obtained at the Icelandic Chamber of Commerce by telephoning 510-7100, or emailing [email protected].”

An English version of the Foreign Ministry’s statement was not immediately available when Iceland Review investigated earlier today.

According to the National Broadcasting Service, RÚV, the Danish daily Berlingske Tidende claimed in today’s paper that “Iceland is countering criticism with a report by an American economist which makes the Icelandic economy look better than it is.”

According to RÚV, Berlingske Tidende says the report was presented at a “propaganda meeting” attended by Icelandic bankers, diplomats, economists and ministers, including the current Foreign Minster and former Minister of Finance, Geir H. Haarde.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article