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Iceland government debates IMF aid

The Icelandic government was debating on Sunday whether it would apply for aid from the International Monetary Fund, with a decision expected within Monday, a minister told a local newspaper.

 

The government had received IMF’s conditions for aid and was meeting to decide whether those conditions are acceptable, daily Frettabladid said in its Monday edition. “This has got that far that we are analyzing the conditions, costs and benefits of how this would look like,” Bjorgvin Sigurdsson, minister of trade and commerce, told the daily regarding the talks between the government and the IMF. Details of IMF’s conditions were not made public.

Iceland has also negotiated with Russia about a loan to help the island state after it became the most serious state victim of the global credit crunch. (Reuters)