IMF Message for Icelandic Foreign Depositors "EXR,

Dear Depositors,

Thank you for your message about the issue of foreign depositors with Icelandic financial institutions. We can ensure you that your message was read and forwarded to the relevant authorities.

As you may know, the IMF's Executive Board recently approved a two-year Stand-By Arrangement for Iceland on November 19, for US$2.1 billion. These financial resources 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. Importantly, Iceland has expressed its commitment to recognize the obligations to insured depositors, and the IMF takes seriously the Iceland authorities’ commitment to a fair process involving equitable treatment of creditors in the bank restructuring.

You can read more about the IMF’s program with Iceland on the IMF’s website.

Best regards,
Public Affairs Division
External Relations Department
International Monetary Fund
http://www.imf.org
E-Mail: publicaffairs(?)imf [dot] org