New Report on Iceland’s Economic Climate Skip to content

New Report on Iceland’s Economic Climate

economicreport_icc-coverThe Iceland Chamber of Commerce released a comprehensive report in English on the current economic climate in Iceland and developments since the banking collapse in 2008 on Friday, which can be downloaded for free.

“This report is thought of as a collection of facts, data and references to websites rather than a deep analysis of the economic climate in Iceland. In the report there are hundreds of links which form its foundation,” said economist Björn Thor Arnarson at the chamber, who is also the editor of the report, in a press release.

The report entails information on, for example, the collapse and restructuring of the banking sector, foreign relations, political development, state of the economy, e.g. debt, unemployment, inflation, the ISK and taxes, the Icesave agreements, referendums and the ESA/EFTA Court process and arguments against a state guarantee, the IMF economic stabilization program, corporate restructuring and the EU accession process.

As to why the report was necessary, the press release explains that since October 2008 the Icelandic economy has gone through dramatic changes due to the collapse of its financial sector. Because of a lack of external information flow, a lot of misconceptions have developed concerning the chain of events in the recent scenario and the current status of the Icelandic economy.

This status report is meant to give a better insight into the chain of events and the current economic, business and political landscape in Iceland. Despite substantial difficulties, general economic activity is still functioning well and many Icelandic businesses remain strong and prosperous, the press release states.

The report is available here.

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