{
  "title": "Press Release: Iceland Repays All of Its Remaining Obligations to the IMF Ahead of Schedule",
  "publication": "IMF News, October 9, 2015",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15469",
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  "summary": "Iceland repaid, ahead of schedule, all of its remaining obligations to the International Monetary Fund (IMF), amounting to SDR 236.9 million (about US$334 million).",
  "publishDate": "2015-10-09",
  "sections": [
    {
      "heading": "Repayment summary",
      "content": "- Iceland repaid, ahead of schedule, all of its remaining obligations to the International Monetary Fund (IMF), amounting to SDR 236.9 million (about US$334 million).\n- The single repurchase consolidated 11 separate repurchases that would otherwise have fallen due between October 14, 2015 and August 31, 2016.\n- The obligations were contracted under the Stand-By Arrangement approved by the IMF’s Executive Board on November 19, 2008, under which Iceland borrowed a total of SDR 1.4 billion (about US$2.1 billion at the time of approval)."
    },
    {
      "heading": "Context and institutional response",
      "content": "- The Stand-By Arrangement originated in the midst of a deep financial crisis and involved intensive engagement between Iceland and the IMF.\n- Christine Lagarde, the Managing Director of the IMF, stated: “This early repayment by Iceland marks a successful end to an intensive engagement with the Fund that began in the midst of a deep financial crisis. The IMF looks forward to continuing a close and constructive relationship with the Icelandic authorities.”\n- The repayment brings to an end the IMF’s Post-Program Monitoring of Iceland.\n- The IMF Executive Board last met to discuss Iceland on June 24, 2015 when it considered the Sixth Post-Program Monitoring Discussion (see Press Release 15/299)."
    },
    {
      "heading": "Recent engagement and follow-up",
      "content": "- An IMF staff team visited Reykjavik in late September to be updated on recent economic developments, including progress in implementing the authorities’ capital account liberalization strategy."
    },
    {
      "heading": "Administrative and contact details",
      "content": "- Press Release No. 15/469\n- Date: October 9, 2015\n- IMF COMMUNICATIONS DEPARTMENT, Media Relations\n- E-mail: media@imf.org\n- Phone: 202-623-7100\n\nSource: IMF Press Release No. 15/469, October 9, 2015.\n\n---\n\n\n References\n\n- Iceland and the IMF\n- Peru and the IMF\n- Press Releases\n- PRESS CENTER\n- Press Release 08/296\n- Press Release 15/299\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15469"
    }
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    "Published: October 9, 2015",
    "Iceland repaid, ahead of schedule, all of its remaining obligations to the International Monetary Fund (IMF), amounting to SDR 236.9 million (about US$334 million).",
    "The single repurchase consolidated 11 separate repurchases that would otherwise have fallen due between October 14, 2015 and August 31, 2016.",
    "The obligations were contracted under the Stand-By Arrangement approved by the IMF’s Executive Board on November 19, 2008, under which Iceland borrowed a total of SDR 1.4 billion (about US$2.1 billion at the time of approval).",
    "The Stand-By Arrangement originated in the midst of a deep financial crisis and involved intensive engagement between Iceland and the IMF.",
    "Christine Lagarde, the Managing Director of the IMF, stated: “This early repayment by Iceland marks a successful end to an intensive engagement with the Fund that began in the midst of a deep financial crisis. The IMF looks forward to continuing a close and constructive relationship with the Icelandic authorities.”",
    "The repayment brings to an end the IMF’s Post-Program Monitoring of Iceland.",
    "The IMF Executive Board last met to discuss Iceland on June 24, 2015 when it considered the Sixth Post-Program Monitoring Discussion (see Press Release 15/299).",
    "An IMF staff team visited Reykjavik in late September to be updated on recent economic developments, including progress in implementing the authorities’ capital account liberalization strategy.",
    "Press Release No. 15/469",
    "Date: October 9, 2015",
    "IMF COMMUNICATIONS DEPARTMENT, Media Relations",
    "E-mail: media@imf.org",
    "Phone: 202-623-7100",
    "[Iceland and the IMF](http://www.imf.org/external/country/ISL/index.htm)",
    "[Peru and the IMF](http://www.imf.org/external/country/PER/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[Press Release 08/296](https://www.imf.org/external/np/sec/pr/2008/pr08296.htm)",
    "[Press Release 15/299](https://www.imf.org/external/np/sec/pr/2015/pr15299.htm)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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