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Iceland PM-Russia loan talks to start on Tuesday

Wed Oct 8, 2008 12:40pm EDT

REYKJAVIK, Oct 8 (Reuters) - Iceland's prime minister said on Wednesday negotiations on a loan from Russia would start next Tuesday.

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Iceland said on Tuesday it was seeking a loan of around 4 billion euros ($5.44 billion) from Russia to help it bolster its foreign exchange reserves as it faces a crisis threatening to overwhelm the island nation.

"Negotiations will start next Tuesday," Prime Minister Geir Haarde told a news conference.

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