Как спасали Исландию
Oct. 20th, 2008 10:25 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
a_kleber«IMF agreement to provide support was a condition for the Bank of Japan and Nordic central banks to help, people close to the talks said.
The Icelandic government has been in negotiations with IMF representatives for around a week, with much of the discussions focused on any conditions the IMF might impose upon Iceland.
This has been an area of particular concern following the tough conditions the IMF imposed on South Korea in the wake of the 1997 economic crisis in Asia. Critics have argued these conditions worsened South Korea’s economy in the short term.
It is understood that discussions between Iceland and the IMF on conditions attached to the rescue have gone smoothly and focused on three areas – the banking sector, fiscal policy and monetary policy, and the exchange rate.
On the banking sector, the IMF has sought assurances on the restructuring of the sector and a review of banking legislation to ensure it conforms with international banking practices, as well as an in-depth review of what happened to trigger the crisis.
Crucially, however, the IMF is not insisting on the privatisation of Iceland’s Housing Financing Fund, a state-backed mortgage lender.
The IMF has also not placed any deadlines on when the Icelandic state must sell the shares it now owns in the country’s three largest banks – Kaupthing, Landsbanki and Glitnir – which it has nationalised.
These measures are regarded as a sign that the IMF is not attaching punitive conditions on Iceland as part of its rescue package, the people close to the talks said.
“It is not demanding any fundamental changes to the social infrastructure,” one person said. “They say they have learned from South Korea and they don’t want to exacerbate any sharp downturn.”»
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Россия, видимо, чего-то требовала в обмен - говорят, что доступ к Арктике, но хз конечно. В любом случае, Исландия-таки предпочла быть спасенной другими.
«If Iceland accepts help from the IMF, it will be the first Western nation to go cap-in-hand to the fund since Britain’s humiliating loan in 1976.»
The Icelandic government has been in negotiations with IMF representatives for around a week, with much of the discussions focused on any conditions the IMF might impose upon Iceland.
This has been an area of particular concern following the tough conditions the IMF imposed on South Korea in the wake of the 1997 economic crisis in Asia. Critics have argued these conditions worsened South Korea’s economy in the short term.
It is understood that discussions between Iceland and the IMF on conditions attached to the rescue have gone smoothly and focused on three areas – the banking sector, fiscal policy and monetary policy, and the exchange rate.
On the banking sector, the IMF has sought assurances on the restructuring of the sector and a review of banking legislation to ensure it conforms with international banking practices, as well as an in-depth review of what happened to trigger the crisis.
Crucially, however, the IMF is not insisting on the privatisation of Iceland’s Housing Financing Fund, a state-backed mortgage lender.
The IMF has also not placed any deadlines on when the Icelandic state must sell the shares it now owns in the country’s three largest banks – Kaupthing, Landsbanki and Glitnir – which it has nationalised.
These measures are regarded as a sign that the IMF is not attaching punitive conditions on Iceland as part of its rescue package, the people close to the talks said.
“It is not demanding any fundamental changes to the social infrastructure,” one person said. “They say they have learned from South Korea and they don’t want to exacerbate any sharp downturn.”»
-----
Россия, видимо, чего-то требовала в обмен - говорят, что доступ к Арктике, но хз конечно. В любом случае, Исландия-таки предпочла быть спасенной другими.
«If Iceland accepts help from the IMF, it will be the first Western nation to go cap-in-hand to the fund since Britain’s humiliating loan in 1976.»
