Help comes from Finland , Norway , Denmark and Sweden . The IMF will pump about $ 827 million into the Icelandic economy immediately . This is a huge amount of money for Iceland to get back on its feet after it was hit by an earthquake in 2010 that killed more than 100 people. `` As a result , Iceland is facing a severe recession , given the high debt level in the economy and significant dependence of the private sector on foreign currency and inflation-indexed debt , '' John Lipsky , the IMF 's acting chairman , said in a statement announcing the decision . Iceland is facing severe recession after a series of bank failures in October .
Help comes from Finland , Norway , Denmark and Sweden . The IMF will pump about $ 827 million into the Icelandic economy immediately . This is a huge amount of money for Iceland to get back on its feet after it was hit by an earthquake in 2010 that killed more than 100 people. Iceland is facing severe recession after a series of bank failures in October .