Iceland and the International Monetary Fund was to stem capital outflows, to restore confidence in the Icelandic economy and to thus stabilize the Icelandic Krona (ISK) 2008–2011 Icelandic financial crisis. Measures adopted by Iceland included an emergency nationalization of the failing banks, a vote of the Icelandic parliament gave the FME (Icelandic Financial Supervisory Authority) broad authority over the insolvent banks. FME proceeded to audit these banks and to split their assets. Measures were also introduced to increase the minimum capital adequacy ratio of the banks to 10% as a part of the effort to re establish confidence in the economy. As a part of these
Iceland and the International Monetary Fund quarters of 2018 when accounting for both goods and services exports.. The largest export item measured was travel, which accounted for nearly 50% of all exported services as well as for the relatively heavy demand for petrochemical and aviation products. Iceland and the International Monetary Fund Iceland is an arctic island nation in the North Atlantic ocean with a population of 352,000 and a GDP of 23.91 billion USD (2017) according to World Bank . Iceland joined the IMF on Dec 27th, 1945, becoming one of the IMF’s founding members. As a part of the IMF, Iceland has rights in