The Fall of Iceland’s Straumur-Burdarás Delays IMF Skip to content

The Fall of Iceland’s Straumur-Burdarás Delays IMF

The current visit of the International Monetary Fund (IMF) delegation in Iceland will be extended until Friday because of the nationalization of the Icelandic investment bank Straumur-Burdarás this week. The delegation had planned to leave yesterday.

Mark Flanagan, who heads the IMF delegation, will speak with media representatives in a press conference on Friday, Morgunbladid reports.

According to Kristján Kristjánsson, a spokesperson for of the Prime Minister’s Office, the primary reason for the extension of the IMF delegation’s visit is the collapse of Straumur-Burdarás.

The impending nationalization of the bank, which was carried through on Monday, took up most of the time of Icelandic officials last weekend, Kristjánsson explained.

The delegation’s tasks also proved more complicated and time consuming than originally estimated, Kristjánsson added.

Click here to read more about the IMF delegation’s visit and here to read more about the fall of Straumur-Burdarás.

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