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Student’s name: Lecturer’s name: Course name: Date of submission: Introduction Iceland is one of the well-decorated countries around the world. It is marked with a clean bill in health and education systems. Most people uniquely relate Iceland to as a country of togetherness and tranquility. It is small in terms of the demographic structure known to encompass about 300,000 citizens. However, the country has gone through some instances of ups and downs during its economic growth patterns. Iceland as a country has truly persevered through desolate trying times and resolved ways of avoiding such difficult episodes. The Crisis This article gives us a clear-cut research on what happened to the Iceland’s financial and investment fraternity as a whole. It begins by explaining that by October 6, 2008, Iceland was his hit by the worst bust in its economy and could in terms be irreversible. The International Monetary Fund’s (IMF) representative at Reykjavik was star struck when he was on requested whether it was possible for the IMF to grant a loan for the Iceland economic misfortunes. He could not fathom how a well-to-do and extremely stable country such as Iceland found itself in such desolate circumstance (Lac, 1). For him, countries in third world depiction in Africa were given attention to because; of various financial problems evident in such countries. African countries could be helped by the IMF because they were marred by problems such as drought and famine, war, diseases and also the aspect of the lack of education. However, a country which was once ranked as number one by the United Nations’ 2008 Human Development Index bothered the minds of many as
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