Central Bank Prepays Portion Of IMF Loan - The Reykjavik Grapevine

Central Bank Prepays Portion Of IMF Loan

Published December 19, 2014

Haukur Már Helgason
Photos by
HMH

The Central Bank of Iceland has decided to prepay 50 billion ISK (ca. €320 mi) to the International Monetary Fund (IMF). According to the bank’s statement, this was decided in the light of the bank’s “relatively abundant liquidity position”.

Following Iceland’s 2008 economic crash, the country received financing from the IMF, totalling at around €1,6 billion. After the currently announced payment, authorities will, according to the Central Bank, have repaid 83% of the loan.

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