Iceland’s Opposition Criticizes Icesave-IMF Connection Skip to content

Iceland’s Opposition Criticizes Icesave-IMF Connection

Chairmen of the largest opposition parties in the Icelandic parliament, Bjarni Benediktsson of the Independence Party and Sigmundur Davíd Gunnlaugsson of the Progressive Party, are critical of the government’s declaration of intent to the IMF that the cost of the Icesave loans will be repaid in full, including “normal” interest.

“I think it is a rather conclusive declaration—going much further than what was earlier declared—that the Icelandic state will pay both the principal and interest of the Icesave loans,” Benediktsson told Morgunbladid.

Gunnlaugsson said it is strange that the government, which until now has said it is wrong to connect the International Monetary Fund’s review of the economic stabilization program for Iceland with the settlement of the Icesave debt, is now connecting these two matters with the declaration.

However, Minister of Finance Steingrímur J. Sigfússon states that the declaration involves a lower commitment than in the declaration made by the previous government.

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