Iceland Receives First Part of IMF Loan Skip to content

Iceland Receives First Part of IMF Loan

The first part of the loan granted to Iceland by the International Monetary Fund (IMF), USD 827 million (EUR 640 million), has been transferred to the account of the Central Bank of Iceland. The amount has become part of the bank’s foreign currency reserves.

However, a parliamentary resolution submitted by Prime Minister Geir H. Haarde on assistance from the IMF is still being handled by Iceland’s Althingi parliament, Morgunbladid reports.

The resolution is being discussed by different parliamentary committees, which deliver their conclusions to the foreign affairs committee. The foreign affairs committee will then submit a final report.

The remaining USD 2.1 billion (EUR 1.6 billion) loan from the IMF will be received in eight equal payments, USD 155 million (EUR 120 million) each.

Click here to read about the IMF approving Iceland’s request for a loan.

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