Iceland says needs $4 bln more in funding

Published: 27 Oct 2008 01:24:30 PST

HELSINKI, Oct 27 - Iceland needs $4 billion more in funding to help stabilise its ailing economy, its prime minister was quoted as saying on Monday.

"It's hard to give an exact figure, but the situation would be good if we would get $4 billion more," Geir Haarde was quoted as saying in Finland's largest daily Helsingin Sanomat.

Crisis-struck Iceland called on the International Monetary Fund for $2 billion in aid on Friday to help fix a broken banking system, restart currency trading and soften the blow from a withering economic downturn.

The Washington-based lender said its staff in Reykjavik and Icelandic authorites had reached agreement on an economic programme that would be supported by the financial assistance.

The deal still needs to be approved by the IMF board and Haarde said on Friday he expected it would take about 10 days for the review to take place.