01749cas a2200241 a 4500 AALejournalIMF006127 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451819410 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Iceland : Staff Report for First Review under Stand-By Arrangement and Requests for Extension of the Arrangement, Waivers of Nonobservance of Performance Criteria, and Rephasing of Access. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (98 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses key findings of the First Review Under the Stand-By Arrangement for Iceland. Post-crisis dynamics has followed the expected pattern: a sharp drop in GDP, rapid decline in inflation, shift of the current account to balance, and gradual stabilization of currency and financial markets. Several quantitative and structural program targets were missed. The authorities and IMF staff have agreed that a faster pace of fiscal adjustment and more gradual pace of capital account liberalization would be the key toward preserving stability and sustainability. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2009/306 Full text available on IMF http://elibrary.imf.org/view/journals/002/2009/306/002.2009.issue-306-en.xml IMF e-Library