The Ministry of Finance presents the Treasury's Medium-term Debt Management Strategy

02.02.11
The Ministry of Finance presents the Treasury's Medium-term Debt Management Strategy

The Treasury's debt management strategy reflects the government's plans for financing its activities during this period. It provides a breakdown of the Treasury's current debt structure and the main risk factors in its debt management, as well as the Treasury's large exposures. Arrangements for implementing financing policy are also described. The Ministry of Finance is responsible for the state's debt management, formulates its financing policy and makes decisions on issuing debt securities. The Government Debt Unit, a special section within the Central Bank, handles the implementation of the strategy under an agreement with the Treasury. This is the first instance of such specific and detailed presentation of the government's debt management strategy.

GDM Strategy.pdf

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Feb 19 2025
Nominal Treasury Bonds
Treasury Bond Auction Announcement - RIKB 38 0215 - New Series - Switch Auction or Cash
Series RIKB 38 0215
ISIN IS0000037265
Maturity Date 02/15/2038
Auction Date 02/21/2025
Settlement Date 02/26/2025
10% addition 02/25/2025
 
Buyback issue RIKB 25 0612
Buyback price (clean) 99.8400

On the Auction Date, between 10:30 a.m. and 11:00 a.m., the Government Debt Management will auction Treasury bonds in the Series, with the ISIN number and with the Maturity Date according to the table above. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%. The Treasury bonds will be delivered in electronic form on the Settlement Date.

Payment for the bonds can be made in cash or with the Buyback issue at the Buyback price.

Payment in cash for the Treasury bonds must be received by the Central Bank before 14:00 on the Settlement Date. If payment is made with the Buyback issue, a notification of the amount must be received no later than by 14:00 on the Auction Date. In that case, the value of the Buyback bond is determined by the Buyback price plus accrued interest (i.e. dirty price).

No fee is paid in relation to the purchase of RIKB 25 0612.

Further reference is made to the description of the Treasury bond and the General Terms of Auction of Treasury Bonds.

For additional information please contact Oddgeir Gunnarsson, Government Debt Management, at +354 569 9635.
Feb 15 2025
Credit Rating
Fitch Affirms Iceland at ‘A’; Outlook Stable

Fitch Ratings has affirmed Iceland's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A' with a Stable Outlook. 

Iceland's 'A' rating is underpinned by very high income per capita and governance indicators akin to 'AAA' and 'AA' category sovereigns. Strong fundamentals include sizeable pension fund assets, a sound banking sector, and resilient private sector balance sheets. Ample foreign reserves help mitigate Iceland's external vulnerabilities. The rating remains constrained by Iceland's small economy with limited export diversification. 

Increased confidence in a sharp and sustained decline in the government debt-to-GDP ratio and higher trend growth and/or evidence of economic diversification that reduces Iceland's vulnerability to external shocks, could lead to a positive rating action. 

A marked deterioration in the debt-to-GDP ratio, from a sustained period of fiscal loosening and a severe economic shock, for example, due to a sharp correction in the real estate market, could lead to a negative rating action.  

Further information on www.government.is

Feb 13 2025
Treasury Bills
Treasury Bill Auction Announcement - RIKV 25 0521 - RIKV 25 0820
Series RIKV 25 0521 RIKV 25 0820
ISIN IS0000036986 IS0000037216
Maturity Date 05/21/2025 08/20/2025
Auction Date 02/17/2025 02/17/2025
Settlement Date 02/19/2025 02/19/2025

On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bills in the Series, with the ISIN numbers and with the Maturity Dates according to the table above. Payments for the Treasury bills must be received by the Central Bank before 14:00 on the Settlement Date and the Bills will be delivered in electronic form on the same day.

Further reference is made to the General Terms of Icelandic Treasury bills and General Terms of Auction for Treasury bills on the Government Debt Management website.

For additional information please contact Oddgeir Gunnarsson, Government Debt Management, at +354 569 9635.