Older news
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Government accounts 2017
The results of the Government accounts for 2017 have now been published and the accounts sent to Parliament. The accounts show a surplus of ISK 39bn, showing Iceland’s strong fiscal position. Revenues...
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Merger of Central Bank of Iceland and Financial Supervisory Authority in preparation - Inflation targeting to remain the principal objective of monetary policy
The Ministerial Committee on Economic Affairs and Restructuring of the Financial System has decided to commence a review of the statutory framework for monetary policy, macroprudential policy, and fin...
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Minister Thordarson visits United Nations, France and UK
Mr. Gudlaugur Thor Thordarson, Minister for Foreign Affairs, is back from his visit to New York, where he attended the United Nations General Assembly. He then went on to France, where he met wit...
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IMF Article IV visit to Iceland 13 – 25 September 2018
A mission from the International Monetary Fund has issued the following concluding statement after a two week Article IV Consultation visit to Iceland. The mission met with representatives of governme...
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Intent to establish a sovereign wealth fund in Iceland
The authorities intend to establish a sovereign wealth fund, the National Fund of Iceland. The purpose of the Fund will primarily be to serve as a sort of disaster relief reserve for the nation, when ...
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New Legislation on E-cigarettes Will Take Effect on 1 March 2019
A new Act on e-cigarettes and refillcontainers will take effect on 1 March 2019. The Act is based on the Bill presented by the Minister of Health on the import, marketing, use and safety of these prod...
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Iceland‘s first session as a member of the Human Rights Council
Yesterday was a historic day when Iceland attended the first session of the Human Rights Council since being elected to the Council this summer. The session began with an opening statement from the ne...
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National Budget proposal 2019
Treasury operated at ISK 29bn surplus Reduced levies on wage-earners — personal deduction to increase Child benefits to increase Healthcare in the forefront Increased all...
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Iceland launches new Climate Strategy, boosting efforts to reach Paris goals
The Icelandic Government today announced a new Climate Strategy, intended to boost efforts in cutting net emissions. The new measures are to help Iceland meet its Paris Agreement targets for 2030 and ...
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Legislation Adopted on Presumed Consent for Organ Donation
Following an amendment to the Act on Organ Donation adopted by the Icelandic parliament Althingi, in the future a deceased person will be presumed to have consented to cadaveric organ donation unless ...
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Care Quality Inspectorate for Social Services and Child Protection
This is the name of a new agency, established by a decision of the Minister of Social Affairs and Equality, which commenced work in May 2018. Initially the Inspectorate will be responsible for adminis...
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Minutes of the meeting of the Financial Stability Council on June 26 2018
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 ...
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Moody’s changes Iceland’s outlook to positive from stable and affirms A3 ratings
Moody’s Investors Service ("Moody’s") has today changed the Government of Iceland's sovereign rating outlook to positive from stable and affirmed Iceland’s A3 long-term issuer rating. The key d...
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DNA analysis of whale hybrid concluded
A DNA analysis of a whale caught in Iceland on 7 July has concluded that it was a hybrid of a fin whale and a blue whale, not a blue whale. The analysis was conducted by the Icelandic Marine and Fresh...
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Iceland elected to the Human Rights Council
Iceland was elected to the Human Rights Council at the United Nations General Assembly in New York today, having received 172 out of 178 votes. Iceland thereby fills the vacancy left by the United Sta...
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Third meeting of the Financial Stability Council in 2018
The Financial Stability Council held its third meeting of the year 2018 on Tuesday 26th of June. The meeting discussed that risk in the financial system was still moderate and that the output gap has ...
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Speech by the Prime Minister, Katrín Jakobsdóttir, on Iceland's National Day, June 17th 2018
Fellow Icelanders. At the beginning of December 1918, Elka Björnsdóttir, a labourer in Reykjavik, wrote an entry in her journal, as she did at the end of each workday. Elka was 37 years old at the tim...
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Fitch affirms Iceland at A with a stable outlook
Today, rating agency Fitch Ratings affirmed Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at A with a stable outlook. According to the rating agency, this rating balances the econom...
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Financial stability should be prioritised over price stability
Primary recommendations: Financial stability shall take priority over price stability if conditions develop such that the former is jeopardised. The Central Bank’s sphere of responsibility sh...
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Minutes of the meeting of the Financial Stability Council on March 20 2018
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 ...