The report describes the post-war economic state of Iceland by looking at the effects the Second World War had on the country as well as its economic future.
Published amidst a flurry of loan approvals to Iceland, the World Bank's Economic Department report looks at the post-war economic position of the country. The report finds that Iceland ended the war with large foreign exchange reserves and with a favorable export market. Iceland initiated one of Europe's largest post-war development programs which was used to strengthen the economy but was, the report argues, poorly planned and brought hardships through monetary inflation and shortages of consumer goods. The report concludes by looking to the future and confirms that Iceland is suitable for financial assistance funded by both the World Bank and the European Recovery Program.
The report contains a general examination of the Icelandic economy.
Mr. Hoar shared his feelings on Harrison Clark's technical mission to Iceland and his forthcoming mission report (1665197).
Mr. Eiriksson of the Iceland Ministry of Commerce comments on the Iceland report (1665197).
Mission team member Harrison Clark provides a preliminary technical mission report (1665197).