Iceland Announces USD2 Billion Deal With IMF

Iceland has reached an agreement with the International Monetary Fund for a two-year, $2 billion loan as part of an aid package to assist the crisis-hit country.

The Icelandic government says the deal, tentatively reached Friday, will give it immediate access to $830 million IF approved by the IMF board in Washington.

Haven't we been down this road before? Didn't Iceland announce a rescue package with Russia a couple of weeks ago before it was a done deal? That one subsequently fell apart.

Still, $2 billion should pay the wages at West Ham for a few weeks.