The total interest expenses minus interest revenue for the period was 13.9 billion ISK, or around 80.9 million EUR. This was reported in a reply from the Ministry of Finance and Economic Affairs because of an inquiry from the MP Asmundur Dadason. 

Mr. Asmundur Dadason requested an itemized list over foreign loans that were taken out after the crisis. The loans were mostly used to strenghten the foreign exchange reserves of the country. In the reply from the Ministry it is noted that in 2012 the government took out a loan for 1 billion USD at 5.857% rate for 10 years. That loan was used to pay installments on the loans from the IMF and the Nordic countries. Those loans had lower interest rates, or from 2.4% to 3.4%.

Mr. Dadason asks where the money was kept and how it was invested, from the day the loans were taken out until today. In the reply it was said that most of the foreign exchange reserves are invested in government bonds around the world. The bonds must fulfill a certain credit rating criteria according to protocols at the central bank. Cash is however deposited at foreign central banks and at the IMF.

Mr. Dadason asked if the government had insured itself against possible defaults of these governments or institutions. The reply from the ministry reads:

"Management of the foreign exchange reserves is conducted so that risk is kept at a minimum but also so that regular transactions can take place. Most of the foreign exchange reserves are invested at central banks, the IMF or bonds with the highest credit ratings and high liquidity. The Central Bank of Iceland does not buy bonds issued by financial institutions unless the credit rating is acceptable according to protocols."

Source: DV.is

http://www.dv.is/frettir/2013/2/12/30-milljarda-vaxtakostnadur-vegna-neydarlanapakka/