01828cas a2200241 a 4500 AALejournalIMF016877 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475563603 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Iceland : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (59 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 provides an assessment of the economic conditions, outlook, and crises in Iceland. There is a mounting sense that capital controls hurt growth prospects, repressing local financial markets, scaring foreign investors, and impeding savings diversification, and that it is time for them to go. Recent settlements with the bank estates are a huge step forward, improving already favorable macroeconomic conditions. At 4 percent in 2015 and gaining pace, real GDP expansion is among the fastest growing in Europe, opening up a positive output gap. However, the biggest risk for Iceland is overheating. Large wage awards on top of already hot economic readings speak to Iceland's boom-bust history. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/179 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/179/002.2016.issue-179-en.xml IMF e-Library