Rus News Journal

The Ministry of Finance of Russia is ready to lend on rescue of economy of Reykjavic of four billion euro

Yesterday in the Ministry of Finance have successfully passed negotiations about granting of Iceland the stabilisation credit for 4 billion euro for a period of three - four years under the rate 4 - 6 annual interest rates. In the Ministry of Finance consider that in the near future all points of order will be finished. But the definitive word remains behind the State Duma and the president. This credit should be made out amendments to the budget.

officials do not disclose the Detail of the transaction, but have explained that the credit stabilisation and will go on restoration of a financial system of the country. The Russian loan will allow to stabilise a course of the Icelandic crone which since July of last year has fallen almost twice.

the Demand of Iceland has been considered marvellously quickly. Has not passed also two weeks from the moment of the reference of the authorities behind the financial help. In the country, seemingly, becomes ripe a collapse, and such force that even the Poles who have arrived to Iceland on earnings home began to come back. The reason - growing payments of banks on an external debt, a frost of contributions and credits. In the second quarter of this year deficiency of current operations has made 34 percent of gross national product while for all 2007 deficiency was 15,6 percent.

On a question of the correspondent: What for to give? After all the debt can appear hopeless the source in the Ministry of Finance has explained, not all so is bad, the budget - that in the country is executed with proficiency. So will endure the difficulties connected with world financial crisis, and will repay debts . By the way, the head of the Icelandic Central Bank David Oddsson as guarantees which the government is ready to give Russia, transfer agencies, named power, aluminium, fish production and tourism.

Not everything, truth, clearly, what for Russia has taken this step at the height of crisis? The Russian authorities pump up in trillions roubles own financial system liquidity not to admit crisis. And it is not clear, how many still it is required. And here have suddenly solved to enclose 4 billion in the country where Russia does not have direct economic interests. The leader Business Russia Boris Titov is categorical: it is necessary - taki to put up all money in own real sector of economy, instead of to help banks of Iceland.

According to head veba Vladimir Dmitriev, the 50 billion dollars allocated to Foreign trade and investment bank for repayment of an external debt all interested person will not suffice. veb has already received demands from 35 corporations and 20 banks more than on 50 billion dollars.

has not managed and without suspicions. A part of experts are inclined to consider that private interests of the Russian companies or officials are ostensibly involved in the Icelandic transaction. The Icelandic authorities could address for the help in the same International currency fund which has declared one of these days readiness to give stabilisation credits for restoration of financial systems of the states. And conditions on which IMF credits are given, are close to the Russian offer. Nevertheless they have preferred Russia.

In reply to the it is the head of the Russian Ministry of Finance Alexey Kudrin has explained that Russia helped and will help other countries. Last year, for example, we have given the credit not only Belarus, but also India, and China . So, most likely, the Icelandic transaction it is faster not economy, and a policy. And Russia which does not refuse plans to become the world financial centre, already prepares for this purpose public opinion .

By the way, in 2006 proficiency of the budget of Iceland has made 6,3 percent of gross national product, in 2007 - 5,2 percent. According to the IMF forecast, during the current year it will make 3,1 percent.


When number was sent for the press, the British TV channel Skye of a news has informed that the Icelandic stock exchange has opened from a collapse of the basic index. Index ICEX has fallen at once to 76 percent. Experts name this falling technical as stock quote of three largest banks of the country which are nationalised by the state is stopped. Their share in the market just also made 76 percent in cumulative cost of securities of 15 largest companies.