News
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07 May 2019 /Minutes of the meeting of the Financial Stability Council on April 1st 2019
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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07 May 2019 /Iceland assumes Chairmanship of the Arctic Council
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...
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03 May 2019 /Fitch places Iceland´s Short-Term Ratings Under Criteria Observation in line with revised criteria
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...
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03 May 2019 /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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13 April 2019 /Icelandic authorities welcome decision to declare the wordmark “Iceland” invalid
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...
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04 April 2019 /Information for UK nationals living in Iceland
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...
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03 April 2019 /Moody's published an issuer on the possible impact of WOW air's collapse on the Icelandic economy
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...
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03 April 2019 /Government actions in support of the Labour Market Living Standards Agreement
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...
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28 March 2019 /End of Operation of Wow Air - Announcement from Icelandic Transport Authority
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 will...
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27 March 2019 /Guidelines for drivers with UK licences
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...
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26 March 2019 /Jewish Holocaust survivor visits Iceland
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...
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23 March 2019 /Fiscal Strategy Plan for 2020-2024: Increased resilience in the economy
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...
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22 March 2019 /Joint understanding on the application of the third energy package towards Iceland
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...
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21 March 2019 /Announcement regarding discussions between Icelandair and Wow air
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...
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07 March 2019 /Iceland leads a joint initiative calling on Saudi Arabia to improve its human rights situation
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...
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04 March 2019 /Removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows
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...
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26 February 2019 /Iceland pledges further support to humanitarian efforts in Yemen
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...
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19 February 2019 /Tax burden on people in the lowest income group reduced
The tax burden on persons in the lowest income group would be reduced by 2 percentage points if the changes to the tax system which the government is proposing are adopted. These changes are in line ...
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15 February 2019 /Reports on the Rights of the Child
In accordance with Article 44 of the Convention on the Rights of the Child (CRC) Iceland has prepared this combined fifth and sixth report on the measures taken to implement the CRC and the second re...
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15 February 2019 /US Secretary of State visited Iceland
Trade, Arctic and security and defense were among the topics discussed at a lunch meeting between Gudlaugur Thór Thórdarson, Foreign Minister of Iceland, and Michael Pompeo, US Secretary of State, in ...
