Iceland has agreed to pay €3.8bn to compensate Britain and the Netherlands for money paid to 400,000 savers whose deposits were lost when Icesave collapsed in October last year.
'An understanding has been reached with the UK and the Netherlands,' a statement from Prime Minister Johanna Sigurdardottir's office said on Sunday. A deal had been approved in August by the Icelandic Parliament but it was rejected due to the proposed expiry date for the repayment set by Iceland at 2024. Reykjavik has now agreed to continue to make payments until the debt is repaid in full. Sigurdardottir added now the Icesave dispute is resolved, she expects a delayed International Monetary Fund review of Iceland's recovery programme to take place 'as soon as this month'. The IMF ...
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