Widening Gap Between The “Haves” And The “Have-Nots” In Iceland

In light of the Financial crisis of 2007-08 and the current Pandemic, commentators have highlighted a widening gap between the “Haves” and the “Have-nots”. You are working as a Senior Economic and Trade Advisor in Iceland, and you are preparing a briefing memo for your principal about this assertion. Please include:

(i) A summary with bullet points containing the main highlights of your briefing;

(ii) A background/context section, illustrating and characterizing the assertion in the country you picked (including with figures and a maximum of two original charts), underlining the risks this situation might entail in Iceland;

(iii) You are tasked with recommending ways forward to address the widening gap: discuss the options this country is facing. In doing so, consider what your government can do, the trade-offs it faces, and what actions other (non-state) entities could possibly play;

(iv) Iceland is a member of the existing international institutions (financial and non-financial), which are mobilizing resources to address the pandemic. Given the country context, how might your recommendations impact domestic support for international initiatives to address the pandemic?