News
IMF completes first review under stand-by arrangement with Iceland
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).
IMF´s press release can be found here.
Central Bank´s press release can also be found here.
