As the Great Recession continues around the world, the Board of Governors of the International Monetary Fund approves the extension of an emergency 3,100,000,000 Special Drawing Right (the IMF’s unit of account) loan to Iceland, after the bankrupt nation secured additional financing from Norway (500,000,000 Euros), Poland (200,000,000 “dollars”) and the Faroe Islands (51,000,000 “dollars”).
[added 8/8/2021]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Subprime crisis impact timeline – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Subprime_crisis_impact_timeline
UPDATE 3-IMF board approves $2.1 billion Iceland loan | Reuters
www.reuters.com/article/idUSN1936/6/77120081120
UPDATE: Iceland Awaits IMF Deal Approval; Krona To Refloat
www.reuters.com/article/idUSN1936/6/77120081120
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