30-Mar-2016: Liquidators' Update, see Deloitte site

Iceland says IMF aid likely delayed

Niklas Pollard, Reykjavik - Reuters:

Iceland's economy minister said on Wednesday there were signs an IMF-led aid package would be delayed after a hitch in a deal to repay Britain and the Netherlands money lost in the island's banking collapse.

Economy Minister Gylfi Magnusson said the centre-left government was “very far” from a solution which could lead to a new repayment deal and allow the government to cancel a planned referendum in Iceland on the issue.

“Obviously the Icelandic government is trying everything it can to prevent a delay (to the IMF program), but I think the odds are against us,” Mr. Magnusson said in a Reuters interview, pointing to delays last year due to the drawn-out dispute. . .

An agreement with the two European Union countries is seen as key for the continued flow of aid to Iceland to underpin an economic recovery from a deep recession after its main banks all collapsed in the space of a week in 2008. Toronto Globe and Mail website - 12-Jan-10.