Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Report: IMF to Rescue Iceland

The Financial Times is reporting this morning that the International Monetary Fund (IMF) is set to lead a $6 billion bailout of Iceland, which experienced a nationwide banking collapse earlier this month.

The FT is reporting that the IMF will kick in $1 billion and the remainder of the sum will be ponied up by other Nordic countries.

Here's a good story by The Post's Keith Richburg that explains just what has been happening in the chilly Northern Atlantic island, which just a few years ago was a hot (so to speak) vacation destination and was known as the "Nordic Tiger" for its booming economy.

-- Frank Ahrens

By Frank Ahrens  |  October 20, 2008; 9:35 AM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Global Markets Looking Up
Next: Markets Up in Opening Minutes

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company