News

Iceland nears total balance

<p>Iceland‘s budget will next year come close to balance, as is stated in the Fiscal Budget Proposal for 2013.</p>

Parliamentary Resolution on a Plan of Action on Disabled Persons' Affairs until 2014

<p>Under Temporary Provision XIII of the Act on the Affairs of Disabled People, No. 59/1992, cf. Act No. 152/2010, the Althingi resolves to approve the following Plan of Action on the Affairs of Disabled Persons' for the years 2012–2014.</p>

The EFTA court hears oral arguments in the Icesave case

Today the EFTA Court in Luxembourg heard oral arguments in the so-called Icesave case,&nbsp; brought before the Court by the EFTA Surveillance Authority claiming that Iceland had breached its obligations according to the EEA Deposit Guarantee Directive.

Iceland withdraws from co-operation with Norway on purchase of rescue helicopters

Icelandic authorities have decided to end the co-operation with Norway on purchase of rescue helocopters as a consequence of great restrictions on public expenditures in Iceland. New rescue helicopters involve large investment requirements which the Icelandic government cannot guarantee in the coming years.…

Foreign Minister of Cyprus meets with Minister Skarphéðinsson

<p>The Foreign Minister of Cyprus, Erato Kozakou-Marcoullis, is on an official visit to Iceland today. &#160;Cyprus currently holds the Presidency of the Council of the European Union</p>

Foreign Minister of Denmark visits Iceland

Iceland‘s Foreign Minister, Össur Skarphéðinsson, met today with Villy Søvndal, Foreign Minister of Denmark, who is on an official visit to Iceland.

2013 - Fiscal budget information

<p>Information regarding 2013 budget proposal.</p>

Advertisement regarding the Referendum to be held on 20 October 2012

<p>With reference to Article 5 of the Conduct of Referendums Act, No. 91/2010 (<em>cf.</em> the Resolution by the Althingi of 24 May 2012), an advisory referendum is to be held on 20 October 2012 on the proposals by the Constitutional Council for a draft Constitutional Act and particular points relating to the proposals.</p>

The Arctic Council SAR agreement implemented in a live exercise

<img src="/media/utanrikisraduneyti-media/media/nordurslodir/small/SAREX2012.jpg" alt="SAREX2012" title="SAREX_2012"> <p>The exercise in and around the coast of East Greenland is a part of the Arctic Council agreement&#160; on Aeronautical and Maritime Search and Rescue in the Arctic.</p>

Foreign Minister calls for greater political cooperation between the Arctic states

<p>Minister for Foreign Affairs Össur Skarphéðinsson gave the opening address at a three day Conference of Arctic Parliamentarians (CPAR) in Akureyri on Wednesday. In his speech the minister called for greater political cooperation and concrete partnership amongst the Arctic states, e.g. on environmental issues and in the field of search and rescue.</p>

Treasury finances January-July 2012

<p>Statistics for Treasury finances for January-July 2012 are available now.</p>

Statement by Iceland's Minister of Industries and Innovation after the London mackerel negotiations meeting

The Foreign Minister meets with US Senator Murkowski

<p>The Minister for Foreign Affairs met today with US Senator Ms. Lisa Murkowski from the State of Alaska. They discussed Arctic Affairs, renewable energy and issues pertaining to civilian and environmental security in the Arctic region. Iceland is looking towards strengthening its cooperation with the United States and in particular with&#160; the State of Alaska on these issues.</p>

Meeting on mackerel in London

The Treasury accounts for 2011

<p>The Treasury accounts for 2011 have now been published. The balance for revenue and expenditure shows that the goals of restraint in fiscal finances have been achieved.</p>

Iceland Supports Stronger International Response to the Syrian Crisis

The Government of Iceland fully supports efforts to strengthen the international response to the Syrian crisis.

Treasury finances January-May 2012

<p>Statistics for Treasury finances for January-May 2012 are available now.</p>

Three chapters opened

<p>Negotiations on three chapters were launched this morning in Iceland's accession talks with the European Union in an Intergovernmental Conference (IGC) in Brussels. The chapters opened are on Transport Policy, Social Policy and Employment and Financial Control. Further talks will now commence.…

Treasury and Central Bank prepay loans from IMF and Nordic countries

<p>This week, the Treasury of Iceland and the Central Bank of Iceland will make repayments in the amount of 171 b.kr.…

Permanent Secretary of State meets with the Deputy Minister for Foreign Affairs of Ukraine

<p>On June 20, Mr. Einar Gunnarsson, Permanent Secretary of State, met with the Ukrainian Deputy Minister for Foreign Affairs Mr. Pavlo Klimkin.&#160;During the meeting they discussed bilateral relations between the two countries, trade cooperation and international affairs, including the United Nations, NATO and the OSCE, with particular focus on Ukraine´s chairmanship of the OSCE in 2013.</p>

Government of Iceland replies to the Statement in Intervention of the European Commission in the Icesave case

The Government of Iceland has submitted its Reply to the Statement in Intervention of the European Commission in the Icesave case to the EFTA Court. This marks the end of the written part of the proceedings in this case. An oral hearing is scheduled to be held in Luxembourg on Tuesday 18 September 2012.

Treasury finances January-April 2012

<p>Statistics for Treasury finances for January-April 2012 are available now.</p>

Address by the Prime Minister of Iceland H.E. Ms. Jóhanna Sigurðardóttir 17 June 2012

<p>„Parliament has now made its will clear and agreed to hold a referendum on whether the Constitutional Council's proposals should be adopted as the basis of a new constitution for Iceland. This important referendum is to be held later this year.“</p>

Nordic Road Congress held in Reykjavík

<p>Mr. Ögmundur Jónasson, Minister of the Interior, participated in the opening ceremony of the Nordic Road Congress, which is now held in Reykjavik with over 800 participants from 18 countries. The Nordic Road Association, Via Nordica, organizes the congress every fourth year in one of the the Nordic countries. The next congress will convene in Trondheim, Norway.</p>

Foreign Minister strongly condemns atrocities in Syria

The Minister for Foreign Affairs, Össur Skarphéðinsson, strongly condemns atrocities committed by Syrian authorities as well as armed militias linked to the Syrian Government. There is little doubt these actors have planned and committed systematic violations of human rights in the past few weeks and months.…

Treasury finances January-March 2012

<p>Statistics for Treasury finances for January-March 2012 are available now.</p>

The Icelandic national curriculum guide for upper secondary school : general section : 2012

Investment Plan for Iceland 2013-2015 – new emphases on employment

<p>The objective of the Investment Plan for Iceland (2013-2015) is to strengthen economic growth and diversity in the economy. This plan is a part of the recovery plan launched in the wake of the economic collapse and is designed to support the economic recovery&#160; already underway.</p>

Norway and Liechtenstein support Iceland in the Icesave-case

Yesterday, the time-limit for third parties to submit written observations in the Icesave-case expired. Norway and Liechtenstein essentially support Iceland´s argument that the Deposit Guarantee Directive does not impose upon the State to provide financial contributions in the event that the funds of a deposit guarantee scheme prove insufficient to compensate investors.

The Icelandic national curriculum guide for compulsory school : general section : 2012

The Goverment of Iceland responds to the Reply to its Defence in the Icesave case

<p>Today, Iceland served the EFTA Court with its Rejoinder in the Icesave case. In the Rejoinder Iceland responds to the arguments put foward by the EFTA Surveillance Authority in its Reply to Iceland´s Statement of Defence, submitted to the Court in early March.</p> <p>This completes the 2nd round of the written procedure of this case.</p>

Presidential Election 2012

<p>The electoral term of the President of Iceland expires on 31 July 2012. 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, 30 June 2012. &#160;</p>

Republic of Iceland issues US Dollar bonds

<p>Iceland has issued a USD 1 billion Reg S / 144A bond offering due in 2022. This is a fixed rate bond with a 6,0% yield. The transaction was well received by global investors with an order book 4 times oversubscribed. The bonds were predominantly placed with US and European accounts. " Important milestone for Iceland" says Finance Minister, Ms. Oddný Harðardóttir.</p>

Important issues discussed at the Nordic Foreign Ministers' meeting in Stavanger on 4 May 2012

<p>Nordic cooperation is developing rapidly. When the Nordic Foreign Ministers came together in Stavanger on 4 May, they discussed ways of strengthening Nordic cooperation and a number of important international issues.&#160; One of the platforms for deepening cooperation on foreign and security policy is the 2009 Stoltenberg Report, which outlines specific proposals for closer cooperation in 13…

Iceland expresses concerns over proposed EU regulation on trade measures

<p>At the meeting of the EEA Joint Committee on Monday 30 April Iceland presented a statement on the Commission proposal for a "Regulation on certain measures in relation to countries allowing non-sustainable fishing for the purpose of the conservation of fish stock".&#160; In its statement Iceland expressed grave concern that certain measures envisaged by the EU would put the EU in breach of its…

Minister presents annual report on foreign affairs

<p>On 26^th April, Össur Skarphéðinsson, Minister for Foreign Affairs of Iceland, presented his annual report on foreign affairs to the Icelandic Parliament.</p>

2011 Government Accounts: Preliminary results from the Financial Management Agency

<p>Preliminary results for 2011 Government accounts have now been released by the Financial Management Agency but the final results will be available in June this year. Their conclusion is that both revenues and expenditures exceeded estimates by the Ministry of Finance available when the supplementary budget was passed.</p>

Free trade talks discussed with Chinese Minstry of Commerce

<p>This morning, Foreign Minister Össur Skarphéðinsson met with Chinese Minister of Commerce Chen Deming, responsible for international trade. The Minister is part of a delegation led by Chinese Premier Wen Jiabao, which arrived today in Iceland on an official visit.</p>

Agreements and declarations signed following a meeting between Prime Minister Jóhanna Sigurðardóttir and Premier Wen Jiabao in Reykjavik today

<p>Following a bilateral meeting today between Prime Minister Jóhanna Sigurðardóttir and Premier Wen Jiabao, they attended the signing of six agreements and declarations.</p>

Prime Minister of Iceland and Premier of China meet in Reykjavik

The Premier of China, Mr. Wen Jiabao, started his official visit to Iceland today, and was met by the Prime Minister of Iceland, Mrs. Jóhanna Sigurðardóttir. This is the first visit of a Chinese Premier to Iceland.

Treasury finances January-February 2012

<p>Statistics for Treasury finances for January-February 2012 are available now (PDF 100 KB)</p>

Icelandic Government observations on the European Commission's request to intervene in the Icesave case

<p>The Government of Iceland has today submitted its observations on the application for leave to intervene in the Icesave case, lodged with the EFTA Court by the European Commission. The observations are based on the advice of Lead Counsel, Tim Ward QC, and the case team assisting him.</p>

The Medium Term Debt Management Strategy 2012-2015

The Icelandic Ministry of Finance has presented the Treasury‘s Medium Term Debt Management Strategy for 2012-2015.

The Medium Term Debt Management Strategy 2012-2015

<p>The Ministry of Finance presents the Treasury‘s Medium Term Debt Management Strategy for 2012-2015.</p>

Amendments to the Icelandic capital controls legislation on 13 March 2012

The Parliament has approved two amendments to the capital controls regime in an attempt to halt increasing circumvention through the bond market and possible negative effects of large capital flows originating from the winding-up process of the failed Icelandic banks.

Amendments to the Icelandic capital controls legislation&nbsp;

<p>The Parliament of Iceland has approved two amendments to the capital controls regime in an attempt to halt increasing circumvention through the bond market and possible negative effects of large capital flows originating from the winding-up process of the failed Icelandic banks.</p>

Amendments to the Icelandic capital controls legislation on 13 March 2012

<p>The Parliament has approved two amendments to the capital controls regime in an attempt to halt increasing circumvention through the bond market and possible negative effects of large capital flows originating from the winding-up process of the failed Icelandic banks.</p>

Medium-Term Debt Management Strategy 2012-2015

Repayment of Treasury and Central Bank debt

<p>In March, the Treasury of Iceland and the Central Bank of Iceland will prepay loans from the International Monetary Fund (IMF) and the Nordic countries in the amount of 116 b.kr.</p>

A workshop on cooperation in geothermal issues

<p>Representatives of government and industry from Iceland, Japan and the European Union, met in Brussels last week for a workshop on cooperation in geothermal issues. The workshop was held in the premises of the European Economic and Social Committee.</p>