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26. Aug 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Information Exchange Agreements (TIEA´s)

Information Exchange Agreements (TIEA´s) Ministry of Finance and Economic Affairs Iceland has concluded a total of 44 bilateral Tax Information Exchange Agreements (TIEA´s). Drafting of these agreements was based on the OECD TIEA model and the work was carried out by a Nordic Steering Group in the years 2008-2015. Tax authorities can request information in tax matters in accordance with the TIEA, which can be of significance for the assessment and enforcement of income tax

04. Aug 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Economic affairs and economic outlook

Economic affairs and economic outlook Ministry of Finance and Economic Affairs The Ministry of Finance and Economic Affairs handles matters which concern the country's economic management. This implies responsibility for drafting economic policy, with the principal objectives of promoting economic stability and a good standard of living. The Ministry oversees the preparation and implementation of the government's economic policies, the coordination of public sector economic management and the presentation of economic affairs both domestically and abroad

24. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Financial Stability Council

Financial Stability Council Ministry of Finance and Economic Affairs The Financial Stability Council is a formal co-operation forum of public authorities for financial stability. The Council serves as a venue for consultation, exchange of information and policy formulation with the aim to strengthen and preserve financial stability in the public interest, limit the build-up of systemic risk and coordinate the preparedness of public authorities for financial crises. Members of the Financial Stability Council are the Minister of Finance and Economic Affairs and the Governor of the Central Bank

19. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Content from before 2020

Content from before 2020 Ministry of Finance and Economic Affairs The role of the Financial Stability Council changed on 1 January 2020 with the merger of the Central Bank and the Financial Supervisory Authority. Before the merger, the Council had sent recommendations to the Financial Supervisory Authority and given an opinion on the Authority’s rules on the maximum loan-to-value ratio. The recommendations and the opinion, as well as minutes and press releases relating to meetings before 1 January 2020, can be found on this page

11. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Progress of plans to remove capital controls

Progress of plans to remove capital controls Ministry of Finance and Economic Affairs The Minister of Finance and Economic Affairs has, as provided for in Act No. 16/2013 of the Icelandic parliament Althingi, published a report on the progress of plans to remove capital controls. The first of the reports provided for in the Act was published on the website of the Ministry of Finance and Economic Affairs on 17 September 2013

11. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Gender budgeting - Why?

Gender budgeting - Why? Ministry of Finance and Economic Affairs Gender budgeting contributes to gender and equality mainstreaming of all policy-making and planningon the part of ministries and public institutions as stipulated in the Act of Equal Status and Equal Rights Irrespective of Gender. With its aim to advance gender equality, gender budgeting also contributes to economic prosperity as inequality is considered to have a negative economic impact on societies. Due to people’s different situations and roles in society, the collection and allocation of public funds has a different impact on various groups

09. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Tax treatment of royalties

Tax treatment of royalties Ministry of Finance and Economic Affairs Effective 1 January 2020, royalty payments to authors/creators and/or other individuals who are rights holders of copyrights in connection with subsequent use of created works will be taxed as investment income, with no allowable deductions, instead of being taxed as wage income. This applies to works that, pursuant to Article 1 of the Copyright Act, no. 73/1972, have been made available to the public, issued, or published; cf

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Monetary Policy

Monetary Policy Ministry of Finance and Economic Affairs Financial stability should be prioritised over price stability Primary recommendations: Financial stability shall take priority over price stability if conditions develop such that the former is jeopardised. The Central Bank’s sphere of responsibility shall be expanded. The Bank shall be solely responsibile for macroprudential and microprudential policies instead of the current division of responsibilities between the Bank and the Financial Supervisory Authority

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Government Debt Management

Government Debt Management Ministry of Finance and Economic Affairs The Ministry of Finance and Economic Affairs is responsible for the central government's debt management and formulates its debt management strategy. The Minister administers borrowing by the Treasury and Part-A State entities based on budgetary authorisations and in accordance with the Act on Government Debt Management, no. 43/1990

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Gender budgeting - How?

Gender budgeting - How? Ministry of Finance and Economic Affairs Implementation of gender budgeting Gender budgeting has been practised in Iceland since 2009 and been mandatory at state level since 2016 as laid out in the Public Finance Act. In its implementation of gender budgeting, Iceland has drawn on guidelines from the Council of Europe and the OECD, among others. The work is framed by a five-year plan on gender budgeting (only available in Icelandic), and its implementation is overseen by a steering committee on gender budgeting, led by the Ministry of Finance and Economic Affairs and with participation of all ministries

06. Mar 2026Economic affairs and public finances, Ministry of Finance and Economic Affairs, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Outlook Revised To Positive On Strengthening Fiscal Position; 'A+/A-1' Ratings Affirmed

On March 6, 2026, S&P Global Ratings revised the outlook on its long-term ratings on Iceland to positive from stable. At the same time, the long- and short-term foreign and local currency sovereign credit ratings were affirmed at 'A+/A-1'.

26. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Macroeconomic Council

Macroeconomic Council Ministry of Finance and Economic Affairs The objective of the Macroeconomic Council is to strengthen the coordination of economic policy with decisions in the labour market, taking into account economic and social stability and effects on climate. The Macroeconomic Council shall discuss the economic situation and the shared context of public sector finances, monetary policy, and labour market issues in connection with key aspects of economic policy.

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Fitch Upgrades Iceland to ‘A+’; Outlook Stable; Withdraws Ratings

Fitch Ratings has upgraded Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘A+’ from ‘A’. The Outlook is Stable. Fitch Ratings has subsequently withdrawn all ratings.

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland reduces the number of solicited credit ratings

The Republic of Iceland has solicited credit ratings from three credit rating agencies: Fitch Ratings, Moody’s Ratings and S&P Global Ratings.

29. Dec 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

New Medium–Term Debt Management Strategy through 2030

The Ministry of Finance and Economic Affairs has published its Medium-Term Debt Management Strategy (MTDS) for 2026–2030. The MTDS describes arrangements for Treasury debt financing over the period and sets forth targets and criteria for the implementation of debt management.

14. Oct 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Publishes Its First Impact and Allocation Report on Green and Sustainable Financing

The Government of Iceland has released its first Impact and Allocation Report, detailing the use of proceeds and environmental benefits of the country’s green and sustainable bond issuances.

12. May 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, ISB

Ministry Confirms Domestic Joint Bookrunners for Upcoming Íslandsbanki Share Offering

As communicated by the Ministry of Finance and Economic Affairs, last Thursday, the framework for a public offering in Íslandsbanki hf. has been approved. The legal framework ensures that due consideration is given to objectivity, efficiency, equality, and transparency in the offering process. Particular emphasis is placed on ensuring that the entire process earns and maintains public trust.

08. May 2025Ministry of Finance and Economic Affairs, Operations and state assets, Economic affairs and public finances, ISB

Alþingi approves Framework for Íslandsbanki Public Offering

Alþingi has today approved amendments to Act No. 80/2024 on the Disposal of the State’s Remaining Shares in Íslandsbanki hf. A fully marketed offering is planned for the first half of the year, with Icelandic individuals receiving priority access. The legal framework enacted last year ensures that due consideration is given to objectivity, efficiency, equality, and transparency in the offering process.

08. May 2025Ministry of Finance and Economic Affairs, Operations and state assets, Economic affairs and public finances, ISB

Alþingi approves Framework for Íslandsbanki Public Offering

Alþingi has today approved amendments to Act No. 80/2024 on the Disposal of the State’s Remaining Shares in Íslandsbanki hf. A fully marketed offering is planned for the first half of the year, with Icelandic individuals receiving priority access. The legal framework enacted last year ensures that due consideration is given to objectivity, efficiency, equality, and transparency in the offering process.

10. Apr 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances

Proposal by the IL Fund to amend the terms of HFF bonds approved by bondholders

On 10th of April, a meeting of bondholders of HFF34 and HFF44 was held. At the meeting, a proposal was put forward for an amendment to the terms of the bonds, which permits the issuer to settle the bonds by delivery of certain assets. The proposal is the result of more than a year of negotiations between the advisors of 18 pension funds, which together hold the majority of the fund's debt, and the negotiating committee of the Minister of Finance and Economic Affairs.

30. Dec 2024Ministry of Finance and Economic Affairs, Economic affairs and public finances

Medium-Term Debt Management Strategy 2025-2029

The Ministry of Finance and Economic Affairs has published Medium-Term Debt Management Strategy for the period 2025-2029. The MTDMS is presented on the basis of the fiscal plan, in accordance with Article 38 of the Act on Public Finances, no. 123/2015, and is to be presented annually. The Medium-Term Debt Management Strategy is presented over a horizon of five years and is based on the previous strategy, issued in December 2023.

16. Apr 2024Ministry of Finance and Economic Affairs, Economic affairs and public finances

Strong position protected and contributed to the reduction of inflation

During the period of the government‘s Fiscal Strategy Plan for 2025-2029, presented today by Sigurður Ingi Jóhannsson, Minister of Finance and Economic Affairs, emphasis will be placed on moderate expenditure growth in order to protect the economy’s strong position, help lower inflation and create conditions for lowering interest rates. As inflation declines, the wage increases negotiated in collective agreements yield increased purchasing power.