This is yet another example as to why the IMF is fundamentally an evil and criminal organization that needs to be shut down:

However, the board will not in practice approve the loan until Iceland resolves a conflict with European governments over how foreign savers will be compensated for billions of dollars in losses suffered on their deposits in Icelandic banks, mainly at Landsbanki’s Icesave unit.

Translation, “We will make the loan, but all the money has to go to foreign creditors.”

I may have not given the IMF enough credit earlier.

I thought that they would treat Icenlanders better, because they are white, but not it appears that they are treating Icelanders like N*gg*rs.

I expect a deal for a Russian naval base, along with a Kremlin loan, in the next few months.