News
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January 28. 2021 /Treasury issues eurobond with 0% coupon
Today the Republic of Iceland issued a bond in the amount of 750 million euros, the equivalent of ISK 117bn. The bond bears fixed 0% interest and is issued for seven years at a yield of 0,117%. Inves...
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January 21. 2021 /Nordic-Baltic countries engage the IMF to conduct an analysis of cross-border money laundering and terrorist financing risks in the region
In the context of a voluntary effort, the Nordic-Baltic countries have asked the IMF to analyse most pertinent ML/TF threats and vulnerabilities in the region given the interconnectedness of the finan...
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December 30. 2020 /Medium-Term Debt Management Strategy 2021-2025
The Ministry of Finance and Economic Affairs has published its updated Medium-Term Debt Management Strategy (MTDS) for 2021-2025. The strategy is based on the fiscal plan and sets forth targets and cr...
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December 08. 2020 /Nordic Economic Outlook 2020
The Nordic Economic Outlook 2020, an annual report on the economic development in the Nordic Countries in terms of growth, business cycles and public finance has been published by the Nordic Coun...
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November 20. 2020 /Resilience: strengthening Iceland’s foothold – Resilience subsidies and support for job-seekers, old-age pensioners, families with children, and vulnerable groups
The Government has decided to pay a special supplement over and above basic unemployment benefits next year, so as to support the large group of people whose income-linked unemployment benefits will e...
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November 13. 2020 /Iceland 'A/A-1' Ratings Affirmed; Outlook Stable
International rating agency S&P Global Ratings has affirmed Iceland’s sovereign ratings at A/A-1 with a stable outlook. The rating agency expects the pandemic to cause Iceland's economy to contrac...
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October 30. 2020 /Progress of the plan for removal of Capital Controls
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...
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October 27. 2020 /Icelandic measures for remote workers put in place
The Minister of Tourism, Industry, and Innovation, the Minister of Justice and the Minister of Finance and Economic Affairs have put in place measures to enable non-EEA foreign nationals to reside in ...
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October 23. 2020 /Fitch Ratings Affirms Iceland´s ratings at A, outlook negative
Fitch Ratings has affirmed Iceland’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘A’ with a negative outlook. The A rating is driven by the very high income per capita and strong ...
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October 01. 2020 /Mitigating measures protect living standards and boost resilience
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...
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August 18. 2020 /Icelandair Group hf.: Government Guaranteed Credit Facility Approved by the Icelandic Government
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...
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July 09. 2020 /Treasury outcome for 2019 positive by ISK 42bn
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...
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June 23. 2020 /New Climate Action Plan - Iceland will fulfil its commitments and more
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 ...
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June 12. 2020 /Progress of the plan for removal of Capital Controls
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...
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May 27. 2020 /Treasury issues eurobond
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...
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May 22. 2020 /Fitch Revises Iceland's Outlook to Negative; Affirms at A
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...
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May 15. 2020 /S&P Global Ratings Affirms Iceland´s ratings at 'A/A-1'; Outlook Remains Stable
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...
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April 28. 2020 /Government of Iceland announces increased support for companies and extension of part-time unemployment benefits
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...
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April 21. 2020 /Government of Iceland Announces Second Phase of Economic Response Package to the COVID-19 Crisis
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...
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April 17. 2020 /Agreement on guarantee of credit institutions’ supplemental loans to businesses
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...
