Monday, October 1, 2012

Economic Rebound in Iceland - Jailing the Bankers Works !

Outlining the economic "rebound", the IMF said: "Following a deep and protracted recession, the economy grew by 2.6 per cent in 2011, a performance that looks set to be broadly repeated in 2012 and sustained over the medium term. The output gap is closing, unemployment has decreased, and inflation - though still high - is expected to converge toward the central bank's target of 2.5 per cent in the medium term; if monetary tightening resumes. Public and external debt ratios are on a downward path and financial sector conditions are improving. The fiscal consolidation is broadly on track."


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