Iceland financial rescue package update

iceland2006_129As reported yesterday, a deal between Iceland and the International Monetary Fund is reported to be near conclusion.

The deal is suspected to centre on a USD 6 billion loan to Iceland from the IMF and Nordic and Japanese central banks, intended to help the country out of its current economic situation.

Icelandic Prime Minister Geir H. Haarde said after a cabinet meeting this morning that the deal has not yet been completed. Government sources say they hope an announcement will be given later today or tomorrow.

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