News

Joint Declaration between Iceland and the United States on security and defense affairs

<p>The declaration stipulates continued support of the United States to the NATO air surveillance mission in Iceland and rotational presence of ASWs, close consultations on security and defense affairs, maintainance and operation of defense facilities, information exchange and practical cooperation in the fields of search and rescue and disaster relief.</p>

Republic of Iceland buys back its own debt

<p>Today the Republic of Iceland bought back its own debt in the nominal series RIKH 18 1009, in the nominal amount of 30 bn. ISK at a price of 100.29. </p>

Support of funding and operation of new business ventures and small growth companies

<p>On 2 June 2016, Parliament passed amendments to legislation on the support of funding and operation of new business ventures and small growth companies.</p>

Reactions to UK's decision to leave the EU

<p>During its meeting earlier today the Government of Iceland discussed the results of the British referendum on European Union membership and UK's decision to leave the EU</p>

New legislation on home sharing to take effect in Iceland

The parliament of Iceland (Althingi) passed a Bill amending legislation no. 85/2007 regarding tourist accommodation licensing (<i>Icelandic: Lög um veitingastaði, gististaði og skemmtanahald</i>) on May 31st, 2016. The new legislation will take effect on January 1st, 2017.

IMF Executive Board completes Article IV Consultation on Iceland

<p>On 20 June 2016, the Executive Board of the International Monetary Fund (IMF) completed its Article IV Consultation on the status and outlook for the Icelandic economy. An IMF mission visited Iceland to hold discussions with the Icelandic authorities and other stakeholders in April, and their reports on the Icelandic economy were published today.</p>

Over 70 Foreign Ambassadors participated in the National Day celebrations

<p>The participation of foreign representatives has been an inseperable part of the official celebrations and an important venue for Icelandic authorities to strengthen ties with friends from all over the world.</p>

Government Accounts 2015

<p>The results of Government Accounts for 2015 have now been published and the accounts forwarded to the Icelandic parliament Althingi. The current balance for the year was positive by ISK 20.0 billion, which accords with budget forecasts. By comparison, in 2014 the current balance was positive by ISK 46.4 billion.</p>

Republic of Iceland repays bonds for 62 billion ISK

<p>Republic of Iceland today completed repayment of bonds issued in 2011 maturing today. The outstanding balance on the bonds series totalled USD 503 million, or equivalent to around ISK 62 billion. Payment for the bonds came from the Treasury's foreign currency balance with the Central Bank of Iceland.</p>

Article by Bjarni Benediktsson in the Wall Street Journal

<p>Bjarni Benediktsson's article in the US edition of the Wall Street Journal, published on June 16.</p>

Treasury finances January-April 2016

<p>Statistics for Treasury finances for January-April 2016 are now available.</p>

Measures to curb the negative effects of inflows of foreign currency

<p>This afternoon, Bjarni Benediktsson, the minister of Finance and Economic Affairs, presented a bill to the Althing regarding amendments to the Foreign Exchange Act, the Act on the Handling of ISK Assets which are subject to special restrictions, and the Act on the special tax on Financial Undertakings.</p>

Q&amp;A on the&nbsp;Act on the treatment of króna-denominated assets subject to special restrictions

<p>Questions and answers on the Act on the treatment of króna-denominated assets subject to special restrictions and Central Bank of Iceland foreign currency auction are now available.</p>

The next steps in capital account liberalisation

<p>This afternoon the Icelandic Minister of Finance and Economic Affairs, Bjarni Benediktsson, submitted before Parliament a bill of Law that sets forth the next steps towards liberalisation of capital controls in Iceland.</p>

Second Meeting of the Financial Stability Council in 2016

<p>The second meeting of the Financial Stability Council in 2016 was held on Wednesday, 18 May, in the Ministry of Finance and Economic Affairs.</p>

Minutes of the Meeting of the Financial Stability Council of 18 May 2016

<p>The meeting was held in the Ministry of Finance and Economic Affairs.</p>

Treasury finances January-March 2016

<p>Statistics for Treasury finances for January-March 2016 are now available.</p>

Fiscal Policy and Fiscal Strategy Plan for 2017-2021

Information regarding the five-year<b>&nbsp;</b>Statement of Fiscal Policy&nbsp;and Fiscal Strategy Plan for the public sector.

The Nordic Welfare Watch Final Conference

Are the Nordic Welfare States Prepared for Future Risks? How can we prepare? The Nordic Welfare Watch final conference in Iceland 10th of November 2016 in Hilton Reykjavík Nordica.

Hrannar Pétursson Political Advisor to the Minister

<p>Mr. Hrannar Pétursson has been appointed as a political advisor to the Minster for Foreign Affairs, as of today, 4 May</p>

Statement of Fiscal Policy&nbsp;and Fiscal Strategy Plan presented for the first time

<p>The five-year<strong> </strong>Statement of Fiscal Policy and Fiscal Strategy Plan for the public sector, presented before Parliament today, entail that it will be possible in coming years to prepare even better for the well-being of coming generations by paying down public debt, reducing levies on individuals with lower and fairer taxes, building up social infrastructure, and significantly…

Treasury finances February 2016

<p>Statistics for Treasury finances for February 2016 are now available.</p>

Parliament approves national security policy for Iceland

<p>On 13 April Parliament approved the Minister for Foreign Affairs' proposed Parliamentary resolution on a national security policy for Iceland, with no dissenting vote.</p>

Tax Information Exchange Agreement with UAE signed

A Tax Information Exchange Agreement, TIEA, between Iceland and the United Arab Emirates was signed today, thereby completing a joint Nordic campaign on agreements with low-tax jurisdictions, which began in 2006. A total of 44 agreements have been concluded.

Tax Information Exchange Agreement with UAE signed

<p>A Tax Information Exchange Agreement between Iceland and the United Arab Emirates was signed today, thereby completing a joint Nordic campaign on agreements with low-tax jurisdictions. A total of 44 agreements have been concluded. </p>

Iceland's new Minister for Foreign Affairs

<p>A new Minister for Foreign Affairs, Ms. Lilja Alfredsdottir, &nbsp;took office today, succeeding Mr. Gunnar Bragi Sveinsson who had held the position since &nbsp;23 May 2013.</p>

Workshop: Volunteer Organizations in Disaster at the Nordic House on April 25th 2016

Government of Mr. Sigurður Ingi Jóhannsson takes office

Ten ministers will take seat in the Government, five from the Progressive Party, and five from the Independence Party. Two of the current ministries, Ministry of Industries and Innovation, and Ministry of Welfare, will have two ministers each.

Iceland's participation in international actions to prevent tax evasion

<p>For years, the Icelandic authorities have placed emphasis on participating in collaboration aimed at preventing international tax evasion. The objective is to enhance transparency and increase the efficiency of taxation so that all taxpayers will pay the taxes to society that they owe.</p>

Progress of the Plan for Removal of Capital Controls

<p>A report as provided for in Act No. 16/2013 of the Althingi.</p>

Re-Granting of Icelandic Citizenship

The Icelandic Directorate of Immigration draws attention to the fact that the deadline for applying for the re-granting of Icelandic citizenship&nbsp;is 1 July 2016. &nbsp;

Fisheries in the Arctic: Lessons to be learned

<p>Presentation made by Dr. Grimur Valdimarsson at the Arctic Frontiers conference in Tromso, Norway 24-29th of January where he discussed what lessons can be learned from developing global fisheries as new areas in the Arctic open up for fisheries development.&nbsp;</p>

Treasury finances January 2016

<p>Statistics for Treasury finances for January 2016 are now available.</p>

A summary of Minister Sveinsson's report to Althingi

<p>On 17 March Foreign Minister, Mr Gunnar Bragi Sveinsson, presented his annual report on Foreign and International Affairs to Althingi, the Parliament of Iceland. </p>

Minister presents annual report on Foreign and International Affairs to Parliament

<p>Gunnar Bragi Sveinsson, Minister for Foreign Affairs, presented his annual report on Foreign and International Affairs to Parliament. </p>

Presidential Election 2016

<p>The electoral term of the President of Iceland expires on 31 July 2016. In accordance with the Act on Candidacy and Election of the President of Iceland, elections to choose a president for the next four-year term will be held on Saturday, 25 June 2016. &nbsp;</p>

Treasury finances January-December 2015

<p>Statistics for Treasury finances for January-December 2015 are now available.</p>

Information sheet on fighting bribery

<p>In light of increased emphasis put on fighting bribery in international business, the Ministry for Foreign Affairs, in cooperation with the Ministry of the Interior, has distributed an information sheet to all Icelandic embassies and missions.</p>

No talks on permanent stationing in Keflavik

<p>In light of a recent reports which state that the U.S. Navy is returning to Keflavík air base, the Ministry for Foreign Affairs wishes to clarify the following: <br></p> <p>There are no talks taking place between Iceland and the U.S. on permanent stationing of American servicemen in Iceland. </p>

Prime Minister Gunnlaugsson addresses the Supporting Syria &amp; the Region conference in London

<p>Sigmundur Davíð Gunnlaugsson, Prime Minister, addressed a conference in London on Thursday, supporting Syria and it's neighbouring countries.</p>

Kick off in Turku/Åbo for the Finnish Presidency and a great drive for Nordic cross-sector cooperation

Siv Friðleifsdóttir, chair of the Welfare Watch, presented the Icelandic and Nordic Welfare Watch at the conference where the main topic was "How can work, welfare and culture be combined?"

Official website for Welfare consequences of financial crises

An official website for the project Welfare consequences of financial crises has been launched,&nbsp;<a href="http://www.welfarecrisis.hi.is/">www.welfarecrisis.hi.is</a>.&nbsp;

First meeting of the Financial Stability Council in 2016

<p>The first meeting of the Financial Stability Council in 2016 was held on Friday 22 January at the Ministry of Finance and Economic Affairs. The topic of the meeting was risk in the financial system. It was revealed that the outlook is for increased imbalances in the domestic economy in the coming term.…

Minutes of the Meeting of the Financial StabilityCouncil of 22 January 2016

Minutes of the Meeting of the Financial Stability Council, 22 January 2016. The meeting was held in the Ministry of Finance and Economic Affairs.

Expression of interest regarding potential advisory role

<p>Icelandic State Financial Investments (ISFI) on behalf of the Icelandic state manages 98.2 % holding in Landsbankinn hf. (Landsbankinn), 13.0 % holding in Arion Banki hf., 5.0 % holding in Íslandsbanki hf. and 49.5 % holding in Sparisjóður Austurlands hf. in accordance with Act no. 88/2009.</p>

Road Map for Tourism in Iceland

<p>Over the past years, the rise in the number of tourists visiting Iceland has far exceeded forecasts and the sector is expected to continue to grow.…

Treasury finances January-November 2015

<p>Statistics for Treasury finances for January-November 2015 are now available.</p>

Evaluation of political and economic interests

<p>The Ministry for Foreign Affairs has published its evaluation of the political and economic interests as regards sanctions towards Russia due to the conflicts in the Crimea and the eastern Ukraine.</p>

ICEDIA's activities transferred to the Ministry for Foreign Affairs

<p>The purpose is to simplify the organisation of development cooperation in order to maximise results and ensure the best possible use of the funds allocated to this policy area. <br></p>

Treasury Prepays ISK 50 billion of the Central Bank's bond – 10% overall reduction of debt in 2015

<p>At year-end 2015 the Treasury made a payment of ISK 49.9 billion on a bond, issued to the Central Bank of Iceland. This represents one of the largest single repayments of Treasury debt to date. The instalment reduced the Treasury's cash balance with the Central Bank.</p>