I wrote them a letter in November and asked them not to give Iceland the loan. The people in power right now in Iceland are not trusted with this money and will waste it on something useless. Also, I've looked into some countries that have gotten in so much more dept after receiving this loan.
Anyway, this is their answer:
Dear Sir/Madam,
Thank you for your email asking about the IMF’s support for Iceland’s economic recovery program. We can ensure you that your message was taken very seriously. The IMF's Executive Board approved a two-year Stand-By Arrangement for Iceland on November 19, valued at US$2.1 billion.
The financial resources from the IMF will back Iceland's ambitious economic program, which aims to restore confidence to the banking system, stabilize the krona, and strengthen the budget over the medium term. In a recent video interview, Poul Thomsen, the IMF’s mission chief for Iceland, expressed confidence that Iceland’s flexible economy will help the country recover from this crisis of historic proportions, but that next year will be tough.
The IMF recognizes that Iceland is facing a difficult period ahead. So the Fund, for its part, is committed to helping Iceland to the best of our ability.
Best regards,
Public Affairs Division
External Relations Department
International Monetary Fund
http://www.imf.org
E-Mail: publicaffairs@imf.org
Anyway, this is their answer:
Dear Sir/Madam,
Thank you for your email asking about the IMF’s support for Iceland’s economic recovery program. We can ensure you that your message was taken very seriously. The IMF's Executive Board approved a two-year Stand-By Arrangement for Iceland on November 19, valued at US$2.1 billion.
The financial resources from the IMF will back Iceland's ambitious economic program, which aims to restore confidence to the banking system, stabilize the krona, and strengthen the budget over the medium term. In a recent video interview, Poul Thomsen, the IMF’s mission chief for Iceland, expressed confidence that Iceland’s flexible economy will help the country recover from this crisis of historic proportions, but that next year will be tough.
The IMF recognizes that Iceland is facing a difficult period ahead. So the Fund, for its part, is committed to helping Iceland to the best of our ability.
Best regards,
Public Affairs Division
External Relations Department
International Monetary Fund
http://www.imf.org
E-Mail: publicaffairs@imf.org
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