Iceland crisis


Iceland to announce $6bn IMF-led rescue package
October 20, 2008, 1:37 pm
Filed under: Uncategorized

Finacial Times state that $ 6 bn from IMF and more.

Iceland is poised to announce a $6bn International Monetary Fund-led rescue package alongside a number of other central banks to help stabilise its economy after its banking system collapsed earlier this month.

People with knowledge of the talks between Iceland and the IMF said the IMF is expected to contribute just over $1bn with central banks from the Nordic region and Japan contributing the rest. It is unknown whether Russia will participate in the rescue plan.

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