Sweden Lends SEK Billions to Iceland Skip to content

Sweden Lends SEK Billions to Iceland

The Swedish government has submitted a parliamentary resolution to the Swedish parliament to grant the Icelandic state a loan worth up to SEK 6.5 billion (USD 770 million, EUR 580 million) in connection with the International Monetary Fund’s economic stabilization program.

According to an announcement from the Swedish Ministry of Finance, the loan is part of a Nordic loan package and Denmark, Norway and Finland will also contribute with loans in relation to the IMF-led program, Morgunbladid reports.

Iceland is expecting to receive USD 3 billion (EUR 2.3 billion) in loans from the Nordic countries, Poland and Russia in total. According to the Central Bank of Iceland, discussions on these loans are ongoing.

However, an agreement between Icelandic and Faroese financial authorities on a USD 50 million (EUR 38 million) loan has been reached.

Click here to read more about the Faroese loan and here to read more about the IMF-led loan package.

Photo by Geir Ólafsson.

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