News

The Government will continue to use fiscal policy as a powerful tool to protect jobs and provide resilience. According to the fiscal budget proposal for 2021, introduced before Parliament today alongs...

As previously announced, Icelandair Group has been in discussions with the Icelandic Government, along with Íslandsbanki and Landsbankinn, regarding a government guaranteed credit facility. The Icelan...

The results of the Government accounts for 2019 have now been published and the accounts sent to Parliament. According to the accounts, the outcome was positive by ISK 42bn, as compared with a surplus...

With the measures presented today, Iceland is expected to achieve a 35% reduction in greenhouse gas emissions by 2030 – The binding Effort Sharing reduction target to meet the commitments of the ...

The Minister of Finance and Economic Affairs today published a report on the progress of plans to remove restrictions on cross-border capital movements and foreign currency trading. The minister shall...

Today the Republic of Iceland issued bonds in the amount of 500 million euros, the equivalent of ISK 76bn. The bonds bear fixed interest of 0.625% and have a 6-year maturity, offering investors a yiel...

Fitch Ratings has revised Iceland’s Outlook to Negative from Stable and affirmed Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A’. The revision of the Outlook to Negative refle...

International rating agency S&P Global Ratings has affirmed Iceland’s sovereign ratings at A/A-1 with a stable outlook. The rating agency assumes that Iceland´s economy will contract by 7.5% in 20...

Icelandic companies that have suffered substantial revenue losses due to the COVID-19 crisis will be given the opportunity to apply for government support to pay a portion of salary costs during the e...

Worth up to 420m USD, the latest phase of the economic response focuses on support and protections for small enterprises, innovation and vulnerable groups. Prioritisation of innovation with incre...

The Ministry of Finance and Economic Affairs and the Central Bank of Iceland have signed an agreement laying down terms and conditions for Treasury guarantees of credit institutions’ supplemental lend...

Today, international rating agency Moody´s Investors Service published an updated credit opinion. The opinion does not entail a rating revision and Iceland’s sovereign rating remains at A2 with a stab...

Icelandic Government will take on up to 75 percent of salaries State-backed bridging loans for companies Deferral of tax payments Financial support for tourism sector One-off chi...

In view of recent events relating to the COVID–19 pandemic, it is foreseeable that the Treasury’s financing need will increase markedly from previous forecasts. The economic outlook for coming months ...

The Government of Iceland’s action plan to respond to the economic impact of COVID-19 aims to reduce and shorten the impact on business and the economy while also creating the conditions for a swift r...

Meeting held at the Ministry of Finance and Economic affairs In attendance were: Bjarni Benediktsson, Minister of Finance and Economic Affairs, chairman; Ásgeir Jónsson, Governor of the Central Bank o...

The Ministry of Finance and Economic Affairs has published Medium-Term Debt Management Strategy for the period 2020-2024. The MTDMS is presented on the basis of the fiscal plan, in accordance with Ar...

The Financial Stability Council held its fourth meeting in 2019 on Tuesday, December 17. This was the last meeting of the Financial Stability Council in its current form as, from the 1st of January 20...

Solid economic fundamentals and the authorities‘ swift policy response appropriately supports the economy in the wake of shocks according to a newly released Article IV report on Iceland by the IMF. A...

Effective 1 January 2020, handling of cases by the Public Procurement Complaints Commission will be transferred from the Ministry of Finance and Economic Affairs to the Internal Revenue Board. The Rol...