Nov. 20 (Bloomberg) -- Iceland won approval for a $2.1 billion loan from the International Monetary Fund to help resurrect the island's economy after the failure of its biggest banks and the collapse of its currency.

The country will receive $2.1 billion from the IMF with up to $3 billion in additional secured from Denmark, Finland, Norway, Sweden, Russia and Poland. The Faroe Islands will lend $50 million.

While Iceland has reached an agreement on how to cover Icesave deposits, the country isn't guaranteeing foreign investor debt holdings at the failed banks, Prime Minister Geir Haarde said Nov. 17.   20-Nov-08.

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