Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

US Secretary of State John Kerry commits to ramping up military assistance to Nigeria

Read more

MEDIAWATCH

First burkinis, now veils

Read more

THE DEBATE

Syria: What about the Kurds? Fighting on three fronts (part 1)

Read more

THE DEBATE

Syria: What about the Kurds? Fighting on three fronts (part 2)

Read more

FOCUS

In Niger the maluntrition of children is worsening

Read more

IN THE PAPERS

'A tested Europe shows a united front'

Read more

IN THE PAPERS

Sarkozy: 'Everything for France'

Read more

THE DEBATE

Rio's Legacy: Were the Olympics worth it for Brazil? (part 1)

Read more

BUSINESS DAILY

French diesel emissions inquiry 'omitted crucial details'

Read more

Business

IMF approves disputed loan to Iceland

Text by News Wires

Latest update : 2010-04-16

The International Monetary Fund has granted the last installment -- worth $160 million -- of a loan to crisis-stricken Iceland after months of political wrangling involving creditors Britain and the Netherlands.

AFP - The International Monetary Fund on Friday approved a much-contested 160-million-dollar loan to Iceland, ending months of political wrangling.

The IMF agreed in November 2008 to lend Iceland up to 2.1 billion dollars in an effort to stave off the collapse of the local economy, which was decimated by the financial crisis.

But amid wrangling with creditors, chiefly the Netherlands and Britain, the latest installment of the loan was delayed by three months.

The Washington-based fund said Friday's decision would take lending to the Atlantic island to around 1.2 billion dollars.

"I am confident that the policies and financing now in place will ease the burden of adjustment and help Iceland's economy stage a recovery in the second half of 2010," said IMF boss Dominique Strauss-Kahn.
 

Date created : 2010-04-17

  • FINANCE

    Iceland moves closer to securing disputed IMF loan

    Read more

COMMENT(S)