MOSCOW, October 14 (RIA Novosti) - Russia's government has refused to grant a $500 million loan to Iceland, the Finance Ministry said Wednesday.
"The decision is dictated by the need to restrain the growth in state spending amid conditions of a deficit budget," the ministry said in a statement.
A delegation from Iceland traveled to Moscow a year ago for a series of meetings to agree the terms of a loan that would allow Iceland's government to shore up its shaky national currency, the krona, which collapsed after the country was forced to nationalize its three main banks after they amassed debts of over $60 billion.
Iceland's foreign debt now is several times higher than the country's GDP. Iceland originally asked Russia for a 4 billion euro ($5.8 billion) loan, but after it received most of the sum from Scandinavian countries and the IMF, the sum of the requested loan went down to $500 million.
Earlier it was reported that Russia also refused a $5 billion loan to Ukraine and a $500 million tranche to Belarus. However, the Russian government is ready to provide financial assistance to Serbia and could extend a loan to Bulgaria, Finance Minister Alexei Kudrin said earlier.
The fact of registration and authorization of users on Sputnik websites via users’ account or accounts on social networks indicates acceptance of these rules.
Users are obliged abide by national and international laws. Users are obliged to speak respectfully to the other participants in the discussion, readers and individuals referenced in the posts.
The websites’ administration has the right to delete comments made in languages other than the language of the majority of the websites’ content.
In all language versions of the sputniknews.com websites any comments posted can be edited.
A user comment will be deleted if it:
The administration has the right to block a user’s access to the page or delete a user’s account without notice if the user is in violation of these rules or if behavior indicating said violation is detected.
Users can initiate the recovery of their account / unlock access by contacting the moderators at firstname.lastname@example.org
The letter must contain:
If the moderators deem it possible to restore the account / unlock access, it will be done.
In the case of repeated violations of the rules above resulting in a second block of a user’s account, access cannot be restored.
To contact the team of moderators, write to email@example.com