Iceland Was Right, We Were Wrong: The IMF

[Moosepoop]

42. Here's a press release from the IMF site in October 2011

http://www.imf.org/external/np/sec/pr/2011/pr11355.htm

Iceland, IMF Announce International Conference
on Lessons, Challenges of Economic Crisis
Press Release No.11/355
October 3, 2011

Iceland was one of the first countries to experience the full force of the global financial crisis in 2008. Three years later, with the country on the road to recovery, the Icelandic authorities and the International Monetary Fund (IMF) will co-host a high-level conference in Reykjavik, on October 27, 2011, to review Iceland’s achievements and examine the challenges that still lie ahead.

“The Icelandic people have shown great determination and resilience in implementing complex policies under difficult circumstances,” said IMF Deputy Managing Director Nemat Shafik. “All the parties involved, including the IMF, have something to learn from this experience, and this is why I am delighted that we are co-sponsoring this event.” She noted, “With the global economy still dealing with the fallout of the 2008 financial crisis, I am confident that the impressive line-up of speakers gathering in Reykjavik will help us distill useful lessons for policymakers, economists, and the IMF.”

“The economic program with the IMF has been highly successful in stabilizing the Icelandic economy and putting it on a path of recovery,” said Central Bank Governor Már Guðmundsson. “There might be some interesting lessons for the international community,” he noted.

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