News

Foreign Minister and President meet with Russia's President Putin

<p>The President of Iceland, Gudni Th. Johannesson, and Guðlaugur Thor Thordarson, Minister for Foreign Affairs, today had a meeting with Russia's President, Vladimir Putin, in Archangelsk, where they have been taking part in the International Arctic Forum.</p>

Moody‘s Investors Service, Issuer Comment on the Government of Iceland

<p>Today Moody‘s Investors Service issued a Comment on the Government of Iceland: Elimination of Capital Controls is Credit Positive for the Sovereign and the Financial Sector.</p>

S&amp;P Research Update&nbsp;Republic of Iceland Ratings Raised To 'A/A-1' OnLifting Of Capital Controls

<p>S&amp;P has raised Republic of Iceland Ratings to 'A/A-1' on lifting of capital controls. Outlook is stable. S&amp;P say:</p>

Iceland Lifts Capital Controls

<p>The Government of Iceland today announces that capital controls on the country's individuals, firms, and pension funds have been lifted with effect on Tuesday. The removal of the capital controls, which stabilised the currency and economy during the country's unprecedented financial crash, represents the completion of Iceland's return to international financial markets.</p>

Iceland Lifts Capital Controls

<p>The Government of Iceland today announces that capital controls on the country's individuals, firms, and pension funds have been lifted with effect on Tuesday. The removal of the capital controls, which stabilised the currency and economy during the country's unprecedented financial crash, represents the completion of Iceland's return to international financial markets.</p>

Future Outlook on Cooperation in the Baltic Sea Region

<p>Symposium to mark the 25th anniversary of the Council of the Baltic Sea States (CBSS).</p>

NATO members stand strong and united

Earlier today NATO defence ministers concluded their meeting in Brussels where discussions focused on transatlantic relations, security challenges and increased defence preparedness in the Alliance's eastern and southern areas.

Treasury finances January-November 2016

<p>Statistics for Treasury finances for January-November 2016 are now available.</p>

Icelandic Government expresses grave concerns

<p>This morning, Foreign Minister Gudlaugur Thór Thórdarson met in Reykjavík with US Deputy Assistant Secretary, Mr. Benjamin Ziff, and expressed the Icelandic Government's regrets and grave concerns regarding the executive order of the President of the United States on imposing a ban on refugees and citizens of seven countries entering the United States.</p>

Foreign Minister meets with residing Ambassadors

<p>Foreign Minister Gudlaugur Thór Thórdarson met today with foreign ambassadors residing in Reykjvík and introduced the new government‘s priority foreign policy issues. </p>

Minutes of the Meeting of the Financial Stability Council of 16 December 2016

<p>Council members: Bjarni Benediktsson, Minister of Finance and Economic Affairs, Chair of the Council; Már Guðmundsson, Governor of the Central Bank; Unnur Gunnarsdóttir, Director General of the Financial Supervisory Authority.</p>

S&amp;P raises the credit rating of the Treasury to A-

<p>The credit rating agency Standard &amp; Poor‘s today raised the credit rating of Iceland´s long-term foreign and local currency debt to A- from BBB+ with a stable outlook. The main reason for the increase was a stronger external position.</p>

Fitch raises outlook to positive

<p>Fitch, the credit rating agency today issued its rating for the Icelandic Treasury. The prospects were upgraded to positive, whereas previously they were seen as stable. </p>

New Foreign Minister takes office

<p>A Government of the Independence Party, the Reform Party and Bright Future has been formed and took office today.</p> <p>Eleven ministers will take seat in the Government, six from the Independence Party, three from the Reform Party and two from Bright Future.…

New Icelandic Government - government of Mr. Bjarni Benediktsson takes office

<p>A Government of the Independence Party, the Reform Party and Bright Future has been formed and took office today. Eleven ministers will take seat in the Government, six from the Independence Party, three from the Reform Party and two from Bright Future. </p>

Fifth meeting of the Financial Stability Council 2016

<p>The fifth meeting of the Financial Stability Council in 2016 was held on Friday 16 December 2016 at the Ministry of Finance and Economic Affairs.</p>

Treasury finances January-October 2016

<p>Statistics for Treasury finances for January-October 2016 are now available.</p>

2017 - Fiscal Budget Information

National Budget Proposal 2017

<p>The fiscal budget proposal for 2017 has been presented before Parliament, in accordance with the fiscal strategy and fiscal plan over a horizon of five years, both of which were approved in August and are based on a new organic budget law.</p>

"Iceland" issue a matter of principle

At a meeting with Iceland Foods, the company stated that it was unwilling to relinquish control of the wordmark “Iceland” and presented proposals that fell short of Iceland's expectations. Legal action to invalidate the exclusive trademark of ‘Iceland' held by Iceland Foods at the EUIPO that started in November will proceed.

Legal action over the use of the word ‘Iceland'

<p>The Government of Iceland, on behalf of Iceland's businesses and people, today announces that it has taken legal action against the UK supermarket chain Iceland Foods with the goal of ensuring the right of Icelandic companies to use the word ‘ICELAND' in relation to their goods and services.</p>

Iceland welcomes announcement by EFTA Surveillance Authority

<p>Iceland today welcomes the announcement from the EFTA Surveillance Authority (ESA) that Icelandic laws on the treatment of offshore krona assets are compliant with the EEA agreement.</p>

Treasury finances January-September 2016

<p>Statistics for Treasury finances for January-September 2016 are now available.</p>

Results of 29 October parliamentary elections

<p>The unofficial results of the parliamentary elections held on 29 October 2016, are as following, based on information from Senior Election Commissions.</p>

Economic Outlook in Iceland

<p>Representatives of the Ministry of Finance and Economic Affairs and the Central Bank of Iceland held meetings with i.a. Credit rating Agencies in Washington DC during the IMF and World Bank Annual meetings earlier this month.</p>

Progress of the Plan for Removal of Capital Controls

<p>The Minister of Finance and Economic Affairs has, as provided for in Act No. 16/2013 of the Icelandic parliament Althingi, published a report on the progress of plans to remove capital controls. </p>

Iceland's women walkout to demand equal pay

<p>Icelandic women leave their workplaces at 14:38 hrs. today, demanding equal pay for the same work as men. Foreign Minister Lilja Alfreðsdóttir, along with women employees of the ministry, in Iceland and elsewhere, will participate in the walkout.</p>

Medium-Term Debt Management Strategy 2017-2021

<p>The Ministry of Finance and Economic Affairs has released the Medium-Term Debt Management Strategy (MTDS) for 2017-2021. Since 2011, the MTDS has been issued over a horizon of three years.…

Treasury finances January-August 2016

<p>Statistics for Treasury finances for January-August. 2016 are now available.</p>

Fourth meeting of the Financial Stability Council 2016

<p>The fourth meeting of the Financial Stability Council in 2016 was held on Friday 30 September at the Ministry of Finance and Economic Affairs. Macroeconomic conditions have been broadly favourable for the financial system in the recent term. </p>

Minutes of the Meeting of the Financial Stability Council of 30 September 2016

<p>Members of the Council: Minister of Finance and Economic Affairs Bjarni Benediktsson, Chairman; Már Guðmundsson, Governor of the Central Bank; Unnur Gunnarsdóttir, Director General of the Financial Supervisory Authority.</p>

Iceland and Baltic States mark 25th anniversary of reestablishment of diplomatic relations

<p>The Foreign Ministers of the three Baltic States and Iceland attended a signing ceremony yesterday in Reykjavík, to mark the 25th anniversary of the reestablishment of diplomatic relations and Iceland's recognition of independence of the Baltic State</p>

UN Convention on the Rights of Persons with Disabilities ratified by Iceland

<p>Iceland's Parliament has unanimously adopted the Foreign Minister's proposal to ratify the UN Convention on the Rights of Persons with Disabilities.</p>

Iceland ratifies the Paris Agreement

<p>During a high-level UN event in New York, marking the entry into force of the United Nations Paris Agreement, Iceland's Minister for Foreign Affairs, Lilja Alfreðsdóttir, announced today that Iceland has formally ratified the Agreement.</p>

The Arctic Council: A Forum for Peace and Cooperation

<p>20th Anniversary statement by Foreign Ministers of the Arctic Council Member States.</p>

Resolution for ratification of the Paris Agreement put forward to Parliament

<p>Minister for Foreign Affairs, Lilja Alfreðsdóttir, has put forward a resolution to Parliament on the ratification of the United Nations' Paris Agreement on climate change.</p>

Regarding the declaration concerning the blanket Treasury guarantee of deposits

<p>The Government of Iceland has decided, following consultation with the Financial Supervisory Authority and the Central Bank of Iceland, that there is no reason for the declaration concerning the blanket Treasury guarantee of deposits to remain in effect.</p>

Parliament passes bill on National Security Council

<p>Permanent members of the National Security Council are the Prime Minister, who will serve as the Chairman of the Council, the Foreign Minister, the Minister of the Interior as well as the Permanent Secretaries of the respective three Ministries</p>

Treasury finances January-July 2016

<p>Statistics for Treasury finances for January-July 2016 are now available.</p>

Moody's upgrades Iceland's government ratings to A3; outlook stable

<p>Moody's Investors Service (MIS) has today upgraded Iceland's government bond and issuer ratings to A3 from Baa2. The rating outlook is stable. This rating action concludes the reviewfor upgrade that commenced on June 10, 2016.</p>

Increased freedom – liberalisation of capital controls

<p>Individuals' and companies' freedom to transfer funds to and from Iceland and to carry out foreign exchange transactions will increase greatly, according to the bill of legislation that the Minister of Finance and Economic Affairs will present before Parliament tomorrow.</p>

Treasury finances January-June 2016

<p>Statistics for Treasury finances for January-June 2016 are now available.</p>

Guðni Th. Jóhannesson sworn in as President

<p>Guðni Th. Jóhannesson took office yesterday, 1 August, as the 6th President of the Republic of Iceland.</p>

Situation in Turkey very serious

<p>„The Icelandic government has followed recent events in Turkey very closely and expresses its concerns about the situation, which has become very serious“, says Lilja Alfredsdóttir, Minister for Foreign Affairs. „Developments in Turkey during this last week have been both rapid and unpredictable and Iceland calls for calm and reconciliation,” says the Foreign Minister.…

Fitch Ratings: change in methodology aligns long-term local currency ratings with long-term foreign currency ratings

<p>This week international rating agency Fitch Ratings held a global portfolio rating committee related to an overhaul of the Agency's sovereign methodology released on May 26th, 2016. The results of the committee were published today. </p>

Standard &amp; Poor's affirms Iceland's sovereign ratings at BBB+/A-2 with a stable outlook

<p>International rating agency Standard &amp; Poor's has affirmed Iceland's sovereign ratings at BBB+/A-2 with a stable outlook. Standard &amp; Poor's expects economic growth in Iceland to remain strong over the next few years, supported by the tourism sector and robust private consumption. </p>

Fitch Ratings affirms Iceland's sovereign rating at BBB+ with stable outlook

<p>Fitch Ratings has affirmed Iceland's Long-term foreign and local currency Issuer Default Ratings (IDR) at ‘BBB+' and ‘A-' respectively with Stable Outlooks. </p>

Third Meeting of the Financial Stability Council in 2016

<p>The third meeting of the Financial Stability Council in 2016 was held on Tuesday, 5 July, in the Ministry of Finance and Economic Affairs.</p>

Treasury finances January-May 2016

<p>Statistics for Treasury finances for January-May 2016 are now available.</p>

Minutes of the Meeting of the Financial Stability Council of 5 July 2016

<p>The meeting was held in the Ministry of Finance and Economic Affairs.</p>