News

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 recession in 2019 due to declining tourist arriv...

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

Iceland has assumed the Chairmanship of the Arctic Council and will lead the Council for two years. This morning, Minister for Foreign Affairs of Iceland, Guðlaugur Thór Thórdarson, received the gavel...

Fitch ratings published a commentary today stating that short-term ratings of Iceland in foreign and local currency, have been placed Under Criteria Observation (UCO) with the possibility of an upgrad...

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...

Dear guests, I am delighted to join you here today, along with First Minister Nicola Sturgeon. The Scottish Government has been a leading force in the Well-being Economy Governments project and on b...

Icelandic authorities have welcomed the ruling by the European Union Intellectual Property Office (EUIPO) that the wordmark registration of “Iceland”, which had been registered in the European Union b...

Dear guests, Welcome to the second day of this remarkable conference, held in collaboration between the Nordic Council of Ministers and the International Labour Organisation. I am speaking here in ...

It is possible that the United Kingdom will leave the European Union and the EEA without a withdrawal agreement on 12 April 2019. UK citizens who have their domicile registered in Iceland will be guar...

Moody’s published an issuer comment today on the possible impact of WOW air’s collapse on the Icelandic economy. Moody’s expect the short term effect to be negative on 2019 economic growth, but in lon...

45 actions in support of the Living Standards Agreement Scale over the term of the Agreement ISK 80 billion Childbirth leave extended to 12 months In combination, reforms of the incom...

Icelandic Transport Authority (ICETRA) has issued an announcement due to the end of operation of Wow Air. All Wow Air flights have been cancelled. Announcement of the ICETRA in full How wil...

The following shall apply for holders of UK driving licences visiting or living in Iceland in the event of the United Kingdom exiting the European Union. Visitors in Iceland Visitors with UK licence...

Andras Hamori shared his story from the Holocaust at a well-attended meeting in Reykjavik last week. Andras is a Jew of Hungarian origin who survived the horrors of World War II. In the spring of...

Foreign Minister Gudlaugur Thor Thordarson and Commissioner Canete discussed on 20 March 2019 the EU Third Energy Package, taking into account the unique situation in Iceland as concerns renewable ene...

The fiscal strategy for the years 2020-2024 reflects the strong position and discipline in government finances in a slower-paced economy. The strategy is a key factor in the important task of co-ordin...

The Icelandic authorities are aware that discussions have commenced between Wow air and Icelandair on the feasibility of a combination of the two businesses. The authorities are supportive of these di...

Today, Iceland led a group of countries at the Human Rights Council in Geneva, calling on the Kingdom of Saudi Arabia to improve the situation of human rights in the country. This is the first time th...

Act no. 14/2019, which amends the Foreign Exchange Act, no. 87/1992, and the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, was published in the La...

The Human Rights Council opened its fortieth regular session in Geneva yesterday. Gudlaugur Thór Thórdarson, Foreign Minister of Iceland, was among around 100 high-level dignitaries who presented stat...