Iceland to Receive Unexpected Loan from Poland

November 7 2008

Polish authorities will participate in the International Monetary Fund (IMF) economic stabilization program for Iceland, which has yet to be accepted by the IMF board, by granting Iceland a USD 200 million (EUR 155 million) loan.

This was confirmed by Magdalena Kobos, a spokesperson from the Polish Ministry of Finance, to Bloomberg news agency.

According to Bloomberg, Iceland is likely to receive an IMF-led emergency loan of around USD 6 billion (EUR 4.7 billion). In addition to Poland, the Scandinavian countries, Britain and the Netherlands will participate in granting the loan to Iceland.

According to late-breaking news from visir.is, Icelandic Prime Minister Geir H. Haarde announced at a governmental meeting this morning that he had not been made aware of Poland’s intentions to offer Iceland a USD 200 million loan.

Source

Published in: on November 8, 2008 at 3:13 am  Comments Off on Iceland to Receive Unexpected Loan from Poland  
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