News
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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...
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April 07. 2020 /Moody´s publishes credit opinion on Iceland – rating unchanged at A2 with a stable outlook
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...
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March 21. 2020 /Icelandic Government announces 1.6bn USD response package to the COVID-19 crisis
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...
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March 17. 2020 /Regarding issuance of Government securities
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 ...
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March 10. 2020 /Economic response to COVID-19
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...
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January 20. 2020 /Minutes of the meeting of the Financial Stability Council on December 17 2019
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...
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December 30. 2019 /Medium-Term Debt Management Strategy for 2020-2024
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...
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December 20. 2019 /Fourth meeting of the Financial Stability Council in 2019
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...
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December 20. 2019 /A swift policy response supports the economy
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...
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December 17. 2019 /Handling of cases by the Public Procurement Complaints Commission transferred to the Internal Revenue Board
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...
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November 22. 2019 /Fitch Ratings Affirms Iceland´s ratings at A, outlook stable
Today Fitch Ratings has published a new commentary on Iceland´s sovereign ratings. Iceland´s credit ratings are unchanged; Long-Term (LT) foreign- and local ratings are affirmed at A and Short-Term (S...
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November 15. 2019 /S&P Global Ratings affirms Iceland’s sovereign ratings at A/A-1 with a stable outlook
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 a mild contraction in GDP in 2019 due to declining...
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November 08. 2019 /Moody's upgrades Iceland's government ratings to A2
Moody’s Investors Service has upgraded Iceland’s long-term issuer and senior unsecured ratings to A2 from A3, Iceland’s senior unsecured MTN rating to (P)A2 from (P)A3 and other short-term rating to (...
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October 23. 2019 /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...
