Iceland’s Discussions with IMF Well Underway Skip to content

Iceland’s Discussions with IMF Well Underway

Iceland’s Minister of Commerce Björgvin G. Sigurdsson said discussions with the International Monetary Fund (IMF) are well underway and that the terms, pros and cons of a potential agreement had been reviewed yesterday.

“We are looking in detail into whether this is the way out of our troubles, or a partial escape from them, in collaboration with the international community and I believe that we have to wrap this matter up quickly and efficiently,” Sigurdsson told Fréttabladid.

Six ministers from the coalition parties, the Independence Party and the Social Democrats, attended continuous meetings yesterday where they discussed a potential agreement with the IMF.

Sigurdsson said a decision on the matter would be reached soon, perhaps today.

Iceland’s Foreign Minister and leader of the Social Democrats Ingibjörg Sólrún Gísladóttir, who has been on sick leave in New York, returned to Iceland last weekend and spoke at her party’s meeting yesterday. Gísladóttir received a warm welcome.

Gísladóttir has declared that she supports an IMF loan application.

Iceland’s Prime Minister Geir H. Haarde told Morgunbladid that a decision on whether or not to apply for an IMF loan was not easy to make, although no concrete conditions had as yet been agreed on. He promised to announce a decision by Thursday this week.

Click here to read more about the IMF debate.

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