Minister of Finance announces completion of IMF program

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Bye Bye IMF. This is what happens when you let turds sink instead of keeping them afloat.

eng.fjarmalaraduneyti.is/Frontpage-fjr/nr/14568

The Executive Board of IMF originally approved the Icelandic government’s recovery programme on 19 November 2008. Today’s decision by the Board will release the final loan disbursement, equivalent to ISK 51 billion. Previous disbursements total the equivalent of ISK 200 billion. In addition, Iceland was granted drawing rights by Nordic countries and Poland in connection with the programme which totalled ISK 150 billion.

The successful collaboration between Iceland and the IMF has drawn considerable attention. The objectives have been met, and economic stability has been achieved after “a perfect storm”, in the words of one IMF representative in Iceland in October 2008. Now the country is on a road to recovery.

Bye Bye Iceland says IMF too.

imf.org/external/np/sec/pr/2011/pr11316.htm

This is the last review under the SBA, which will expire on August 31. Owing to strong implementation by the authorities, the Fund-supported program has been successfully completed. The objectives have been met and the country is on the road to recovery.