Meginmál

IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement

IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement

NOTE: This article is from 28. October 2009 and is therefore more than 5 years old.

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iceland’s economic performance under a program supported by a Stand-By Arrangement (SBA).

At the request of Iceland’s authorities, the Board also extended the SBA by six months to May 31, 2011 to compensate for delays in program implementation and review, and approved the rephasing of the undisbursed amount over the remainder of the arrangement. The completion of the first review enables the immediate disbursement of SDR 105 million (about US$167.5 million), bringing total disbursements under the program to SDR 665 million (about US$1,061.1 million).

See press release from IMF on the matter, no. 09/375 - posted on the IMF-web:

See the press release no. 09/375 as a pdf-file: