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Iceland to announce $6bn IMF-led rescue package
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Iceland to announce $6bn IMF-led rescue package
By David Ibison in Reykjavik
Published: October 20 2008 13:10 | Last updated: October 20 2008 13:42
Iceland is poised to announce a $6bn rescue package, led by the International Monetary Fund and backed by 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 fund was expected to contribute just over $1bn, with central banks from the Nordic region and Japan contributing the rest. It is not known whether Russia will participate in the rescue plan.
ft.com
Published: October 20 2008 13:10 | Last updated: October 20 2008 13:42
Iceland is poised to announce a $6bn rescue package, led by the International Monetary Fund and backed by 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 fund was expected to contribute just over $1bn, with central banks from the Nordic region and Japan contributing the rest. It is not known whether Russia will participate in the rescue plan.
ft.com
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