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Iceland moves closer to latest IMF loan

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Iceland moves closer to latest IMF loan

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Iceland’s government and the International Monetary Fund have agreed on the terms of a further loan of 117 million euros. The IMF’s board has still to give final approval.

The latest instalment of a 1.6 billion euro IMF loan authorised in late 2008 has been delayed due to a dispute with Britain and the Netherlands over compensation for the collapse of the Icesave online bank.