IMF on Iceland's strong economic recovery from a banking crisis with strong resemblance to Ireland --
IMF Survey: How does Iceland’s experience differ from that of other European countries that still struggle with the impact of the global financial crisis?
Dohlman: Iceland has done relatively well. This year, Iceland will become the first 2008-10 crisis country in Europe to surpass its pre-crisis peak of economic output. The key differentiating factors supporting Iceland’s relatively strong recovery are worthy of further study, but rapid external adjustment through depreciation and limited government absorption of private financial sector debt were likely important factors.
IMF Survey: How does Iceland’s experience differ from that of other European countries that still struggle with the impact of the global financial crisis?
Dohlman: Iceland has done relatively well. This year, Iceland will become the first 2008-10 crisis country in Europe to surpass its pre-crisis peak of economic output. The key differentiating factors supporting Iceland’s relatively strong recovery are worthy of further study, but rapid external adjustment through depreciation and limited government absorption of private financial sector debt were likely important factors.
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