Iceland’s stuck IMF review finally moves

IMFThe International Monetary Fund announced today the long overdue review of its Iceland recovery package will take place next Wednesday,

The Icelandic broadcaster RUV announced last night that the permanent IMF representative in Reykjavik had preliminarily confirmed that the IMF Board will work on the review next week.

Iceland’s Prime Minister, Johanna Sigurdardottir said after yesterday’s cabinet meeting that she believed the IMF review would be back on the table next week and that the second tranche of the loan to Iceland would finally become available.

The IMF review was due in February but has been delayed by Iceland’s dispute with the Netherlands and the UK over Landsbanki’s failed Icesave savings accounts.

A final bill to settle the Icesave issue was signed on Monday this week and looks set to be passed by Althingi, Iceland’s parliament – although Steingrimur J. Sigfusson’s (Icelandic Minister of Finance) application to fast track the bill through parliament this week was rejected by the opposition.

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