Foreign Economic Outlook on Iceland Becoming More Positive - The Reykjavik Grapevine

Foreign Economic Outlook on Iceland Becoming More Positive

Published October 5, 2009

Íslandsbanki director Birna Einarsdóttir told RÚV that foreign banks
and investors are beginning to regard Iceland in a more positive light. It is her opinion that Icelandic banks could be able to get foreign loans sooner than was originally thought.
Many major Icelandic bankers are attending a yearly World Bank and International Monetary Fund meeting, currently being held in Istanbul. There, bankers from many different countries gather to assess one anothers’ economic strengths and weaknesses.
In speaking to RÚV, Einarsdóttir said in part, “We’ve met and talked with about twenty different foreign banks in the past two days, to go over how the situation is in Iceland, and with our banks, and how we see our business in the future. I have to admit, I think we’ve been better assessed than I expected. Everyone wants to meet with us and discuss the situation. After the bank collapse, everyone said that they would never lend to Iceland again. That point of view has changed. How soon we can again receive foreign loans is uncertain, but I think it will be in shorter time than we originally thought.”

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