Thursday October 22, 2020

Iceland relieved at IMF move

On November 19, there were sighs of relief from the Icelandic government and Central Bank when the IMF board finally announced a US$2.1 billion loan facility.

29th November, 2008

On November 19, there were sighs of relief from the Icelandic government and Central Bank when the IMF board finally announced a US$2.1 billion loan facility.

It will bring with it access to an additional $3 billion in loans from other countries, including Denmark, Norway, Sweden, Russia, Poland and the Faroe Islands. It is planned to be the foundation on which this near bankrupt nation can restore faith in its floundering currency and rebuild its fractured economy.

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