Central Bank

Current account deficit 31.1 in Q2/2021 – net IIP positive by 36.6% of GDP


Iceland’s current account showed a deficit of 31.1 in Q2/2021. This represents a deterioration of 8.3 relative to the previous quarter and 24.8 relative to Q2/2020. The deficit on goods trade totalled 55.7, while the surplus on services trade totalled 25.2 At the end of the quarter, the net international investment pos...

IMF general allocation expands Iceland’s international reserves


The International Monetary Fund (IMF) allocated special drawing rights (SDR) to its member countries on 23 August 2021, following prior approval by the Fund’s Board of Governors on 2 August. The general allocation, equivalent to a total of 650 billion US dollars, is distributed to member countries in direct proportion to their quota with the Fund....

August Monetary Bulletin published


The August issue of Monetary Bulletin has been published on the Central Bank of Iceland website. The report is also issued in Icelandic under the title Peningamál.

Statement of the Monetary Policy Committee 25 August 2021


The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 1.25%.

Monetary Policy Committee report to Parliament


The Central Bank Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H1/2021 has been posted to the Bank’s website with supporting material.

Statement of the Financial Stability Committee 30 June 2021


Accommodative monetary and macroprudential policies and measures taken by the Government have supported households and businesses during the pandemic. In recent months, there have been signs of a strong economic recovery, and asset prices have risen materially.

Get in touch

For further information on the benefits of establishing a business in Iceland please feel free to contact us.


Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. Generous support for R&D.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors