ICELAND UPS INTEREST RATE !
Reykjavik has already arranged a $2bn loan from the IMF.
Iceland's central bank has raised its key interest rate to 18% from 12% as the country battles against financial collapse.
The move came as Iceland's prime minister said the country needed another $4bn (£2.6bn) in loans.
"It's not a precise number, it's not a scientific number but we are looking in that neighborhood," Geir Haarde said.
The country has already agreed a $2bn loan from the International Monetary Fund (IMF).
BBC NEWS REPORT.
Labels: Iceland Interest-Rate IMF Collapse Loan Central-Bank Reykjavik
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