News

Over ISK 6 billion in additional investment and growth sectors in 2013 - 11/20/12

Funding for the 2013-2015 Investment Programme, submitted this spring with a reservation on the availability of funding, has now been secured.

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Tax information exchange agreement with Panama - 11/12/12

Iceland signed today a tax information exchange agreement (TIEA) with Panama. Iceland has now concluded 39 TIEAs with former secrecy jurisdictions having a financial centre attracting non-resident activities.

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Framework for stability in Iceland

Two new Bills based on proposals from the Group of Three on Financial Stability in Iceland - 10/17/12

Framework legislation on financial stability needs to be adopted to enhance and preserve an efficient and effective financial system in Iceland for the public good.

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Group on the Removal of Iceland's Capital Controls - 9/25/12

The Ad Hoc Group on the Removal of Iceland's Capital Controls consisting of representatives of the Icelandic Government and the European Commission with participation from the European Central Bank and International Monetary Fund held its first meetings in Reykjavik on 20 and 21 September

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Iceland nears total balance - 9/21/12

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

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Treasury and Central Bank prepay loans from IMF and Nordic countries - 6/21/12

This week, the Treasury of Iceland and the Central Bank of Iceland will make repayments in the amount of 171 b.kr. on loans taken from the International Monetary Fund (IMF) and the Nordic countries in connection with the IMF-led Stand-By Arrangement (SBA). These transactions will bring the total repayments to 53% and 59%, respectively, of the loans originally extended to Iceland by the IMF and the Nordic countries under the SBA.

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Republic of Iceland issues US Dollar bonds - 5/4/12

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.

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2011 Government Accounts: Preliminary results from the Financial Management Agency - 4/26/12

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.

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The Medium Term Debt Management Strategy 2012-2015 - 3/30/12

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

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Amendments to the Icelandic capital controls legislation  - 3/19/12

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.

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Repayment of Treasury and Central Bank debt - 3/15/12

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.

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Iceland´s bond issue last June still draws great attention - 1/27/12

EuroWeek magazine has selected the bond issue of Iceland among the best in their choice of the best bond issues for 2011.

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New Minister of Finance - 1/20/12

Mrs. Oddný G. Harðardóttir, is Iceland´s new Minister of Finance. She was appointed on the 31. December 2011 and is the first woman in Iceland to hold this position. She is a member of The Social Democratic Alliance and has been member of the Parliament since 2009.

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Last tranche of Nordic loans disbursed to Iceland - 1/4/12

The bilateral loan facilities negotiated between the Nordic countries and Poland, on the one hand, and Iceland, on the other, in connection with the authorities' IMF-supported economic programme, amount to a total of €1,930 m.

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