IMF Likely to Review Iceland Program Despite Icesave Skip to content

IMF Likely to Review Iceland Program Despite Icesave

By Iceland Review

It is considered likely that the board of the International Monetary Fund will review the economic stabilization program for Iceland next month regardless of the situation of Iceland’s dispute with the UK and the Netherlands on Icesave.

Photo by Páll Stefánsson.

Icelandic Minister of Finance Steingrímur J. Sigfússon and Minister of Economic Affairs Gylfi Magnússon met with Dominique Strauss-Kahn, the IMF’s managing director, on Friday and after the meeting they were optimistic about the review taking place shortly, reports.

The IMF’s second review of the economic stabilization program for Iceland has been delayed by almost two months. The IMF board was unwilling to undertake the second review while the Icesave dispute remained unresolved.

The Icelandic government has objected to the connection between the IMF’s review of Iceland’s program and the Icesave dispute; Prime Minister Jóhanna Sigurdardóttir recently wrote a letter to Strauss-Kahn in that regard.

Sigfússon iterated the opinion of the Icelandic government during the meeting on Friday and is now optimistic that Icesave will cease to be an obstacle.

Click here to read more about Iceland and the IMF.

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