国际英语新闻：Iceland reaches agreement with $2 bln loan from IMF

STOCKHOLM, Oct. 24 (Xinhua) -- The Icelandic government announced Friday that it had reached an agreement with the International Monetary Fund (IMF) on a comprehensive economic stabilization program including a 2 billion U.S. dollars loan from the fund.

    "The program requires approval from the management of the IMF. Iceland would be able to draw 830 million U.S. dollars immediately after the IMF board approves the program," the government said in a press release, adding that they are confident that the IMF's management will support the program and submit it for approval by the IMF's executive board as soon as possible.

    "This program will enable us to secure funding and gain access to the necessary technical expertise required to stabilize the Icelandic krona and to provide support for the development of a healthier financial system," said Icelandic Prime Minister Geir H.Haarde.

    "As a result, Iceland will commit to a sustainable long-term economic policy, and a plan for the recovery of the Icelandic economy. A thorough review of the Icelandic banking regulatory framework will also form part of this program," he added.

    Haarde pointed out that with cooperation with the IMF Iceland is now in a much better position to establish a sound economic and

    financial base for the country. "We now have grounds for a more optimistic view of the future," he said.

    Iceland's stock market crashed earlier this month and the government nationalized three of the country's biggest banks.