Monday, October 20, 2008
ICELAND'S RESCUE PACKAGE
Icelandic government announced $6 bn rescue package to stabilize the economy (link) after an increase in government debt which is expected to reach as much as 100 percent of the GDP. Here is some interesting insights into financial crisis in Iceland (link). Meanwhile, Fitch downgraded Iceland's long-term foreign currency rating to BBB- and long term IDR (issuer default rating) to A- (link). Here is also a brief factsheet of Iceland's economic indicators in this year's September (link). IMF's official inflation and output estimate for Iceland suggest output decline and inflation surge in 2009 (link).