central燘ank爋f营celand.pdfVIP

Central Bank of Iceland Lifting Financial Constraints as  Recovery Takes Hold Már Gudmundsson, Governor Central Bank of Iceland J.P. Morgan Investor Seminar 9 October 2010 Plan of the presentation • Economic developments and  prospects • Monetary policy •The financial sector • Foreign debt and reserves • Prospects for lifting capital controls Adjustment and three shocks • Unusually large external and internal macroeconomic  imbalances 2005‐2007 associated with an unsustainable  boom • Their subsiding was bound to be associated with a very