The Iceland Chamber of Commerce released a 94-page report in English on the current economic climate in Iceland on April 3, which can be downloaded for free.
Copyright: Icelandic Photo Agency.
This is the Chamber’s 15th report since the collapse of the financial sector in 2008, and includes new information on currency restrictions, the implementation and review of the International Monetary Fund (IMF) program, changes in the Icelandic government, the progress of the EFTA Surveillance Authority (ESA) process dealing with the Icesave default, debt reconstruction, capital markets, pension funds, the restructuring of banks, new guidelines for corporate governance and foreign currency loans, as well as economic forecasts up to 2014-15.
While the collapse of the Icelandic economy was part of a complex global financial crisis, Iceland was hit especially hard due to the large size of the banking sector in comparison to the overall economy. Like the governments of other countries, the past and present Icelandic governments have worked hard to overcome the crisis.
The report intends to provide an up-to-date picture of the Icelandic economic, commercial and political landscape, and states that in general the economy and business are strong and functioning well. In 2011, economic indicators improved steadily, growth returned and unemployment began to subside.
As with previous reports, the information is presented as a collection of facts, data, and references, with hundreds of links provided to more in-depth sources.
Click here to download the report.