Ingvar Vilhjalmsson, the former director of the market trade division at Iceland’s (now bankrupt) Kaupthing Bank, now needs to repay the bank’s estate around ISK 2.6 billion (EUR 16.36 million) in loans which had effectively been written off. Read the full story

The Executive Board of the International Monetary Fund (IMF) today approved the third review of the Economic Recovery Programme agreed by the IMF and the Icelandic government. This opens the way for disbursement of the third tranche of the Fund’s loan provided to the Icelandic government which amounts to around ISK 19 billion. In addition, loans from Poland and Nordic countries are also expected to be forthcoming following the review. Read the full story

The Icelandic government will today discuss draft proposals on contracts with car leasing companies to help those struggling to pay off car loans denominated in foreign currencies which have increased proportionately with the depreciation of the Icelandic krona. Read the full story

Ministry of Finance press release: Agreement has been reached on a letter of intent for the second review under Iceland’s Stand-By Arrangement with the IMF. The review is tentatively scheduled to be discussed by the IMF’s Executive Board on April 16. Read the full story

Payments and interest on Icelandic national debts over the next 14 years will be around ISK 2,260 billion, of which the Icesave debt amounts to around ISK 289 billion – which is a smaller amount than the Central Bank of Iceland loaned Kaupthing without security shortly before the banking crash. Read the full story

Mar Gudmundsson, Chairman of the Central Bank of Iceland has confirmed that a portion of the promised loan to Iceland from the Scandinavian countries will be requested before the beginning of December and will hopefully be received before Christmas. Read the full story

Margret Maria Sigurdardottir, Iceland’s children’s ombudsman says she is speechless that Glitnir Bank loaned millions of kronur to children to buy shares in Byr Savings Bank. She says the guilt lays both with Glitnir and the parents for indebting their own children. Read the full story

The long awaited review of the IMF loan to Iceland took place today and the next tranche of funds was agreed upon. Read the full story

The potential USD 500 million loan from Russia to Iceland will not go ahead, Reuters reports. Read the full story

(Updated 17.24 GMT) The Progressive Party in Iceland believes Prime Minister Johanna Sigurdardottir is deliberately trying to block a potential massive loan to the country from Norway completely unconnected to the IMF package. The Prime Minister described the allegations as preposterous. Read the full story