IMF says yes in Iceland loan review

IMF2The long awaited review of the IMF loan to Iceland took place today and the next tranche of funds was agreed upon.

The Icelandic government can expect to receive funds amounting to USD 168 million directly from the IMF in the immediate future, followed by agreed funds from the other Nordic countries and Poland.

The money will be used primarily to strengthen Iceland’s currency reserves and the total loan in Icelandic kronur is around 100 billion – 80 billion of which coming from Iceland’s Nordic neighbours, reports.

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