Iceland and the International Monetary Fund set at positive 2-3 percent by 2010. Additionally Iceland determined that it would not support the losses of its pension funds and social service programmes in order not to take up additional obligations. One of the primary objectives of the Icelandic government in seeking an IMF programme was to stabilize the ISK and to set a path for its gradual appreciation. To stabilize short term pressures on the ISK the Central Bank of Iceland raised interest rates to 18% and prepared to back the krona with its foreign reserves, specifically for which Iceland asked for an IMF programme . The
Military history of Iceland Military history of Iceland This is a brief overview of historical warfare and recent developments in what today constitutes the Republic of Iceland. In the period from the settlement of Iceland, in the 870s, until it became part of the realm of the Norwegian King, military defences of Iceland consisted of multiple chieftains ("Goðar") and their free followers ("þingmenn", "bændur" or "liðsmenn") organised as per standard Nordic military doctrine of the time in expeditionary armies such as the "leiðangr". The armies being divided into units by the quality the warriors and birth. At the end of this period the number