Public sector - Business and economics

Central Bank of Iceland: Monetary Bulletin

The objective of the Central Bank of Iceland’s monetary policy is to contribute to general economic well-being in Iceland. The Central Bank does so by promoting price stability, which is its main objective.

Thursday, 16 May 2013 08:58

Icelandic central government has low net debt

The Icelandic central government (not counting municipalities) owes 1489 bn ISK (~9.4 bn EUR), or around 81.5% of estimated 2013 GDP. But the government has many assets as well. The government took loans to strengthen its foreign currency reserves and the government has also lent money to other institutions.

Thursday, 16 May 2013 00:02

Katrin Juliusdottir, minister of finance and economic affairs

Icelands success discussed at the IMF's Spring Meetings

Each Spring, thousands of government officials, journalists, civil society organizations, and invited participants from the academia and private sectors, gather in Washington DC for the Spring Meetings of the World Bank and the IMF. The meetings this year are held from April 19th - 21st. Katrin Juliusdottir, the minister of finance and economics affairs in Iceland, is attending.

Saturday, 20 April 2013 20:04

Landsvirkjun’s Board Members Appointed at the Annual Meeting

Announcement from Landsvirkjun - Landsvirkjun’s Annual Meeting was held on April 10th. The proposal on terms and conditions for Landsvirkjun’s Board Members and Reserve Board Members, put forward by the Minister of Finance, was approved.

Saturday, 20 April 2013 14:25

Icelandic krona not been stronger for over 2,5 years

The Icelandic króna strengthened by 1 percent on Thursday and has not been stronger, against a basket of the main foreign currencies, since 2010. The króna has now strengthened by 12% this year.

Saturday, 20 April 2013 04:53

Yield on Icelandic government bonds has lowered greatly

The yield on Icelandic government bonds in foreign currency has greatly lowered since mid last year. This development reflects increased confidence in Iceland as a debtor, but this is also due to less risk aversion on foreign bond markets.

Friday, 19 April 2013 19:31

Warns about nationalizing foreign investors assets in Iceland

The Danish economist Lars Christensen says that foreign investors would not be happy if the ideas about nationalizing parts of the assets of the fallen Icelandic banks would be realized. This could delay the lifting of the capital controls and decrease foreign investment.

Friday, 19 April 2013 17:02

Arnor Sighvatsson reappointed Deputy Governor of the Central Bank of Iceland

A statement from the Central Bank of Iceland. With a letter dated 12 April 2013, the Minister of Finance and Economic Affairs has reappointed Arnór Sighvatsson to the post of Deputy Governor of the Central Bank for a term of five years, effective 1 July 2013.

Wednesday, 17 April 2013 14:25

Icelandic government now owns 98% in Landsbankinn bank

Yesterday the Icelandic government acquired shares for 18.67% in Landsbankinn and now owns 98% of the outstanding shares. The bank itself owns 2% of the shares, that can be used for performance linked bonuses to employees. The old defaulted Landsbankinn, now called LBI hf., owned the shares and they were managed by the Winding-up board.

Friday, 12 April 2013 15:56

Icelandic economy to grow by 1.9% in 2013 and 2.7% in 2014

The Icelandic economy is predicted to grow by 1.9% in 2013 and by 2.7% in 2014. Private consumption is expected to grow 2.5% in 2013 while investment will contract by 2.3%. For 2014, private consumption is predicted to increase by 3% and investment by 16.9%. Public consumption remains constant during 2013 and 2014, with slow growth predicted for 2015 through 2018.

Friday, 12 April 2013 11:59