Financial crises have a beginning and an end


Glitnir Research has published a report on the prospects for the Icelandic economy following the current financial and currency crisis. The report also tries to address what implications are inherent in the possible involvement of the IMF.

Glitnir Research is predicting a relatively sharp contraction in 2009, coupled by substantial increase in unemployment simultaneously to high inflation at the beginning of the year. The contraction can be expected to be in the range of 3%-7%, inflation to range between 15% and 20% at the beginning of next year and unemployment to rise to 4%-5% in a short period of time. On the other hand, inflation will abate rapidly if the ISK does not depreciate further and labour market participants do not chase inflation with wage increases. The current account deficit should disappear quickly and the foreign debt position improve. Conditions in the economy could become considerably more favourable as early as 2010.

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More