Iceland appreciates IMF's approval of its recovery program

（单词翻译）

    STOCKHOLM, Jan. 11 (Xinhua) -- Iceland appreciates（感谢） IMF's approval of the 4th review of Iceland's economic recovery program, said Arni Pall¹ Arnason, Icelandic minister of economic affairs on Tuesday.
    "The approval（批准） of the review is an important milestone," said Arnason in a statement reaching here from Iceland.
    "We appreciate the positive feedback from the Fund regarding the disciplined austerity measures put forth² by the government and our handling of economic policy," Arnason said.
    He noted³ that by accelerating private debt restructuring, Iceland's policy paves the way for economic recovery in the coming months and further strengthen the financial sector⁴.
    The Executive Board of the International Monetary⁵ Fund (IMF)（国际货币基金组织） has approved the fourth review of the Economic Recovery Program agreed by the IMF and the Icelandic government, according to the statement.
    This will open the way for disbursement⁶ of the fourth tranche of the Fund's loan provided to the Icelandic government amounting to around ISK 19 billion (16 million U.S. dollars), the statement said.
    In addition, financing assurances by the Nordic countries are also expected to come following the review.
    Upon the conclusion of the review, the Icelandic government sent the IMF a new Letter of Intent, describing Iceland's economic policy.
    The Letter states that an economic recovery is gradually taking hold, apparently⁷ by the continued stability of the krona, a declining debt path and falling inflation.
    Trade surpluses have allowed authorities to begin purchases of foreign currency to bolster⁸ reserves. Recent indicators⁹ suggest that demand is slowly picking up, and growth is expected to turn positive in 2011.
    Measures including building a solid financial system and control of household and corporate¹⁰ debts will continue.(本文由在线英语听力室整理编辑)