12 October 2008

Iceland eyes IMF

As they prepared to head to Moscow to negotiation a four billion euro bailout, Icelandic officials gave signs on Sunday the country was looking at the International Monetary Fund as a potential source of help during the country's economic collapse. [Reuters-Iceland]

"My conclusion is that if we appeal to the IMF, other central banks and other nations would follow that track," Industry Minister Ossur Skarphedinsson told the Morgunbladid newspaper in a report published on its website on Sunday.

In related news, the Norwegian bank regulator moved on Sunday to take control of the Iceland bank Kaupthing's Norwegian arm. [Reuters - Norway]