News
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20 November 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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13 November 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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30 October 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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27 October 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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23 October 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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01 October 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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18 August 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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09 July 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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23 June 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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12 June 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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27 May 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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22 May 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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15 May 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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28 April 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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21 April 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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17 April 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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07 April 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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21 March 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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17 March 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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10 March 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...
