Norway grants loan to Iceland
Copenhagen, 3 nov (EFECOM). – The Norwegian Government informed today into the concession of an extraordinary credit to 4-5 years of 500 million Euros (625 million dollars) to the Icelandic authorities to do against the financial crisis that crosses east Nordic country.
The credit granted by the Norges Bank (National Bank) to its homologous Sedlabanki Icelander is conditional to that the direction of the IMF approves the plan of stabilization decided with Iceland, that includes a loan of 2,100 million dollars, and that other countries make “contributions similar”, according to an official notice.
The authorities Norwegians have extended in addition to 2009 the date to return of another credit of the same value granted the past May and that it won at the end of year.
This credit was approved jointly by the central banks of Sweden, Norway and Denmark, that were committed to contribute to 500 million Euros each, by means of an agreement of type “swap” (financial exchange) to change Icelandic crowns by Euros.
The countries of the Nordic Council – that they integrate besides Iceland and Norway, Denmark, Sweden and Finland approved days ago in Helsinki to create a commission to study additional measures of support to Iceland.
The minister of Outer Subjects Norwegian, Jonas Gahr Store, declared to one Finnish radio his “deception” by the lack of concrete commitment of the Nordic countries in the aid to Iceland, although soon he clarified his words and he said to be misinterpreted.
The Norwegian Government today stressed his official notice the “importance” of which the economic support to Iceland happens “in collaboration with the other Nordic countries”.
The Icelandic authorities have considered in 4.000 million dollars, the loan of the separate IMF, the amount that need to re-float their economy, very damaged by the crisis.
Iceland has also requested aid to the European Central bank and the Federal Reserve of the United States, besides negotiating with countries like Japan and Russia possible loans.
