23 October 2009
The Icelandic government has reached agreement with the UK and the Netherlands to repay $5bn (£3bn) lost in the 2008 banking collapse.
The repayment does not cover money invested by UK councils, which is being negotiated separately.
Iceland, which took ownership of its three largest banks – Kaupthing, Glitnir and Landsbanki – hopes the repayment agreement will help it obtain aid from the International Monetary Fund.
Prime minister Johanna Sigurdardottir said an IMF review of its bailout plans would be completed by the end of October.
The Icelandic government has reached agreement with the UK and the Netherlands to repay $5bn (£3bn) lost in the 2008 banking collapse.
The repayment does not cover money invested by UK councils, which is being negotiated separately.
Iceland, which took ownership of its three largest banks – Kaupthing, Glitnir and Landsbanki – hopes the repayment agreement will help it obtain aid from the International Monetary Fund.
Prime minister Johanna Sigurdardottir said an IMF review of its bailout plans would be completed by the end of October.
