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03 December 2023

IMF to meet new Iceland government on loan program

By Reuters
The International Monetary Fund said on Tuesday it will meet with Iceland's new government from this week to discuss the country's $2.1 billion IMF loan agreement.

The talks are scheduled for February 26 to March 10.

"The team will discuss with authorities the latest economic developments and will assess the progress under the IMF-supported economic program," an IMF spokesman said.

The mission's visit will be the first since a new center-left government was established in Iceland on February 1 under Prime Minister Johanna Sigurdardottir.

The previous government of Prime Minister Geir Haarde, which negotiated the IMF deal, collapsed on January 26 under pressure from sometimes violent demonstrations over the country's financial crisis.

The IMF has said it will continue to support Iceland under the loan program as long as "appropriate" economic policies are maintained.

"An IMF program supports good policies, not particular political parties or coalitions," IMF mission chief to Iceland Mark Flanagan said in a statement on January 26, in keeping with IMF policy not to comment on domestic politics.