News

The Government of Iceland remains fully committed to honour Iceland's obligations

The Government of Iceland has decided to hold a national referendum on the so-called Icesave legislation, following broad consultations with both coalition and opposition parties as well as employers' associations and labor unions. The referendum is expected to take place late February.

The Government committed to the Economic Program

<p>The President of Iceland has declined to sign a law authorising a state guarantee for repayment of loans provided by the UK and the Netherlands to the Depositors' and Investors' Guarantee Fund, intended to cover payment of the minimum deposit guarantees to depositors in the UK and Netherlands branches of the failed Landsbanki Íslands hf.</p>

The Government committed to the Economic Program

The President of Iceland has declined to sign a law authorising a state guarantee for repayment of loans provided by the UK and the Netherlands to the Depositors' and Investors' Guarantee Fund, intended to cover payment of the minimum deposit guarantees to depositors in the UK and Netherlands branches of the failed Landsbanki Íslands hf.

The European Tree Trade Association's (EFTA's) 50th Anniversary

Today marks 50 years since the signing of the Stockholm Convention establishing EFTA, the European Free Trade Association.

Weekly Web Release out of publication

The Weekly Web Release is out of publication.

Icesave Issue Resolved

<p align=justify><em>Press release No. 84/2009</em></p> <p align=justify>Yesterday evening the Icelandic parliament <i>Althingi</i> approved a legislation authorising a state guarantee for loans by the UK and the Netherlands to the Depositors&rsquo; and Investors&rsquo; Guarantee Fund to cover payment of mandatory minimum deposit guarantees to holders of savings accounts in branches of Landsbanki…

Bank Reconstruction Concluded

The restructuring of Iceland&rsquo;s three commercial banks is now concluded.

Agreement between the Icelandic government and Landsbanki&#39;s Resolution Committee on settlement

<p>The Icelandic government, the Resolution Committee of Landsbanki Íslands (&ldquo;the old bank&rdquo;) and new Landsbankinn (NBI) have signed a final agreement on the settlement of assets and liabilities following the division of Landsbanki Íslands into old and new banks, following its collapse int October 2009. Representatives of leading creditors have participated in the negotiations.</p>

New exchange agreements signed

The Nordic countries (Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden) have today concluded the signing of several new information exchange agreements with states whose international financial services industry focuses on attracting foreign investors.

Preliminary Findings of the EFTA Surveillance Authority in Additional Cases Concerning Iceland´s Emergency Act No 125/2008

<p>ESA has now also given notification of its preliminary views on seven other complaints from foreign financial institutions which are general claimants of one or another of the former banks concerning the legislation and actions by Icelandic authorities in connection with them. ESA´s preliminary findings are in all instances similar to that of 4 December, i.e.…

Nordic Council of Ministers to hold Energy and climate day at Shanghai World EXPO 2010

<p>The Nordic Council of Ministers is to hold a Nordic- Chinese Energy and Climate Day on the 25th of June 2010 at the Shanghai World Expo, bringing together ministers, business leaders, researchers and other key stakeholders from China and the Nordic region.</p>

Important step in the financial restructuring of BYR

The Ministry of Finance held meetings yesterday with the management of BYR Savings Bank, together with its advisors, and a number of creditor representatives.

The Development Fund for Immigration Issues is open for application for the year 2009

<p jquery1260549134413="27">The Immigration Council announces that they are open for applications for grants from the Development Fund for Immigration Issues.</p>

Unemployment 8% in November

The unemployment in November 2009 was 8% or up from 7,6% in October 2009. There were 13.357 unemployment in November 2009 or up with 675 from October 2009.

EFTA Surveillance Authority´s preliminary findings regarding a complaint concerning Iceland´s Emergency Act No 125/2008

<p>The EFTA Surveillance Authority (ESA) presented its preliminary findings in a letter dated 4 December 2009 on a complaint raised by a group of general creditors of the Icelandic banks Glitnir bank, Kaupthing bank, Landsbanki Islands, SPRON and Sparisjodabanki Islands.</p>

EFTA Surveillance Authority´s preliminary findings regarding a complaint concerning Iceland´s Emergency Act No 125/2008

The EFTA Surveillance Authority (ESA) presented its preliminary findings in a letter dated 4 December 2009 on a complaint raised by a group of general creditors of the Icelandic banks Glitnir bank, Kaupthing bank, Landsbanki Islands, SPRON and Sparisjodabanki Islands

Passenger numbers at Leifur Eiríksson Air Terminal in November 2009

<p>Passengers passing through Leifur Eiríksson Air Terminal increased by approximately 4% in November 2009 compared to same month last year, or from 92,000 to 95,000.</p>

Agreement on ownership of Arion Bank

The Resolution Committee of Kaupthing Bank has, in consultation with the creditors and being supported by its financial advisor throughout the process, decided that Kaupthing Bank and thereby its creditors shall acquire 87% of common equity in Arion Bank. The Government will continue to own 13% of common equity.

The International Day for the Elimination of Violence against Women

To mark the International Day for the Elimination of Violence against Women,the 25. November, women's and human rights groups have organized a Walk of Light led by prominent public figures carrying torches and sparklers.

Youth College Students 16 to 20 years

Women and Men in Iceland 2009

Statistics of women and men in Iceland in 2009

The Financial Crisis, the Property Market and Home Ownership

<p>A nordic conference about The Financial Crisis, the Property Market and Home Ownership will be held at Hótel Nordica, Reykjavík 26th of November.</p>

The labour market in October 2009

<p>The unemployment in October 2009 was 7,6% or up from 7,2% in September 2009.&#160; There were 12.682 unemployed in October 2009 or up with 537 from the previous month (September 2009).</p>

Lets Talk

<p>In the past year, women of foreign origin and some Icelandic ones have met once a month at Reykjavík City Library in Tryggvagata, to enjoy each other's company, share their experience and support each other in various ways.</p>

Statistics report for the first half of 2009 published

The PTA has published a statistics report on the Icelandic electronics communications market. The report is an in-depth information on the electronic communications market for the first half of 2007-2009.

Passenger numbers at Leifur Eiríksson Air Terminal in&nbsp;October 2009

<p>Passengers passing through Leifur Eiríksson Air Terminal decreased by approximately 11% in October 2009 compared to same month last year, or from 142,000 to 127,000.</p>

Iceland's negotiation committee appointed

The Icelandic Minister for Foreign Affairs has appointed Iceland&#39;s negotiation committee for the upcoming accession negotiations with the European Union. Ambassador Stefan Haukur Johannesson is the Chief negotiator and will lead the negotiation committee. The negotiation committee consists of the Chief negotiator, 10 chairpersons of individual negotiation teams and seven other members.

Reconciliation of work and family life - Transnational report

<p>Directorate of labour has been participating in a EU sponsored project on reconciliation of work and family life. The closing meeting and final conference was organised by the directorate and was held in the beginning of October.</p>

Foreign Minister appoints Chief negotiator

<p>The Minister for Foreign Affairs has appointed Ambassador Stefan Haukur Johannesson to serve as Iceland's Chief negotiator in the upcoming accession negotiations with the European Union</p>

Parental leave, Care Policies and Gender Equalities in the Nordic Countries

<p>Conference arranged by the Nordic Council of Ministers 21–22 October 2009, Reykjavik, Iceland</p>

Announcement by the Ministry of Finance and the Resolution Committee of Kaupthing: Deadline regarding capitalization of New Kaupthing extended until end of November

The Ministry of Finance and the Resolution Committee of Kaupthing have agreed to extend the deadline for the Resolution Committee to make a decision regarding the capitalization of New Kaupthing until 30 November 2009.

Report of the Permanent Committe on Procedural Law on amendments to the Insolvency Regime in relation to the assessment programme with the IMF

A survey of the attitudes and conditions of immigrants in Iceland

Approx 800 participants of foreign origin participated in the study. The respondents answered and submitted a questionnaire that contained more than one hundred questions, either by post or in person in their place of work. The study was anonymous.

The Icelandic Government submits answers to a Questionnaire from the European Commission

All ministries and a number of agencies contributed to this effort, which resulted in more than 2600 pages of answers, in addition to annexes and attachments, 8870 pages in total. The answers will form the basis for the Commission?s opinion to the European Council regarding Iceland?s readiness for formal candidate status.

The IMF Executive Board to Review Iceland&#39;s Economic Programe

<p>The IMF's Executive Board aims to discuss the first review of Iceland's economic programme at its meeting on Wednesday 28 October.</p>

The Finance Ministers of Iceland, the United Kingdom and the Netherlands: Joint Statement upon introduction of a Bill on Icesave to the Icelandic Parliament Althingi

Following the signing of an acceptance and amendment agreement between Iceland and each of the UK and the Netherlands a bill was introduced to the Icelandic parliament today. Those amendment agreements and the Bill mark the final steps in implementing the Icesave loan arrangements between Iceland and the UK and the Netherlands.

Icesave Negotiations Concluded - Outcome Presented

Following the entry into force of Act No. 96/2009 on 2 September this year, providing a state guarantee for the Icesave Loan Agreements, discussions have been held between the Icelandic government and the Depositors&rsquo; and Investors&rsquo; Guarantee Fund (the Guarantee Fund) and representatives of the governments of the UK and the Netherlands.…

Joint press release from the Ministry of Finance, Íslandsbanki and Glitnir&#39;s Resolution Committee: Creditors Acquire 95% of Share Capital in Íslandsbanki

Glitnir&rsquo;s Resolution Committee has, on behalf of its creditors, decided to exercise the option provided for in its agreement with the Icelandic state and take over 95% of share capital in Íslandsbanki. This concludes the settlement concerning those assets transferred from Glitnir to Íslandsbanki upon the collapse of the commercial banks last October.

The labour market in September 2009

<p>The unemployment in September 2009 was 7,2% or down from 7,7% in August 2009. There were 12.145 unemployed in September 2009 or down with 1.242 from August 2009.</p>

Agreement between the Government of Iceland and the Resolution Committee of Landsbanki on compensation instrument

<p>The Government of Iceland and the Resolution Committee of Landsbanki are pleased to announce that an agreement has been reached on the outline terms for the compensation payable by New Landsbanki to Landsbanki in return for the transfer of net assets to New Landsbanki in October 2008.</p>

Prime Minister's Address Opening the Parliamentary Session on Monday, 05 October 2009

Althingi reconvenes now following an unusually brief recess - in a year we will not soon forget. It has been a very difficult time for the nation, because all of us suffered a shock when so many things we trusted failed.

Debt statistics, October 2009

Central government debts and assets 1998-2010, October 2009

2010 - Fiscal budget information

Highlights of the 2010 Budget Proposal.

Joint press release from the Polish and Icelandic Ministries of Finance

<p align=justify>Today in Istanbul, Turkey, a loan agreement was signed between the Republic of Poland and the Republic of Iceland. Under the agreement, the Republic of Poland will lend the Republic of Iceland 630 million Polish z³oty (PLN), the approximate equivalent of 200 million US dollars (USD).</p>

Budget Highlights 2010

Budget Highlights for 2010.

New macroeconomic forecast 2009

This report focuses on the development and outlook of the economy for 2009-2011 on the basis of the Ministry of Finance&rsquo;s most recent macroeconomic forecasts and projections up to the year 2014.

Treasury finances January-August 2009

Figures for Treasury finances in the first eight months of 2009 are now available. Total Treasury revenue amounted to 276 billion, decreasing by -18 billion or -6.1%

Payment slips in electronic form

As of next month (October 2009) unemployment payment slips will not be sent out in paper through regular mail, but only displayed electronicly on your personal account at the Directorates of Labour (Vinnumálastofnun) application website and at the Social Insurance (Tryggingastofnun) website&nbsp; <a href="http://www.tryggur.is/">www.tryggur.is/</a>.

The Resolution Committee of Glitnir granted been granted an extension to October 15th to decide whether to aquire control Íslandsbanki

The Ministry of Finance has accepted a request from the Resolution Committee of Glitnir, on behalf of its creditors, for an extension until October 15th to arrive at a final decicion whether to acquire control of Islandsbanki.

Foreign Minister discusses economic crisis and climate change at UN General Assembly

Iceland&#39;s Minister for Foreign Affairs, Ossur Skarphedinsson, discussed the effects of the economic crisis in a speech to the United Nations General Assembly in New York, Saturday 26 September. The Minister conveyed Iceland&#39;s deep dissatisfaction with ongoing delays on reviewing the Stand-By Arrangement with the International Monetary Fund due to unrelated bilateral disputes.