The Icelandic Government Information Center
regarding the current financial circumstances in Iceland

The Economic Situation in Iceland

At the end of 2008 Iceland was in the headlines of the international press for unenviable reasons. In the wake of the global financial crisis, Iceland's three largest private banks were, within the space of a few days, taken into government administration.The collapse of the banking sector brought about an unprecedented financial crisis.

Iceland is moving towards economic recovery with multilateral assistance from the International Monetary Fund playing a key role. Iceland’s clean energy, its marine resources, strong infrastructure and well-educated workforce, provide a firm basis to overcome the current economic difficulties and implement necessary reforms.

The Financial Crisis in Iceland

Economic Recovery & Actions Taken

 

News and Press Releases

24.2.2009 FME News Net asset valuation

The decision of The Financial Supervisory Authority (FME) of 9 January 2009 stated that the net asset valuation of NBI hf., New Glitnir Bank hf., and New Kaupthing Bank hf. could not be completed within the timeframe of the original decisions
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23.2.2009 Central Bank of Iceland - Latest News Comments on the legislative bill amending the Act on CBI

The Central Bank of Iceland has published its comments on the legislative bill amending the Act on the Central Bank of Iceland, no. 36/2001.
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20.2.2009 Central Bank of Iceland - Latest News A new web-based Central bank of Iceland publication. Translation available.

A new web-based Central Bank of Iceland publication, Economic Affairs, has been launched on this website. Economic Affairs will feature papers by individual authors, which have previously been published in Monetary Bulletin. By publishing these papers in web-based format as they become available, the Central Bank will be able to bring them to readers' attention more promptly.
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20.2.2009 Central Bank of Iceland - Latest News Letter from Governor Eirķkur Gudnason to the Prime Minister of Iceland

Governor Eirķkur Gudnason's response to the Prime Minister's letter of February 2, 2009
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20.2.2009 Central Bank of Iceland - Latest News Letter from Governor Ingimundur Fridriksson to the Prime Minister of Iceland

Governor Ingimundur Fridriksson's response to the Prime Minister's letter of February 2, 2009
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