Iceland will soon have normal access to international financial markets once again, according to the country’s finance minister, who met with foreign banks, ratings agencies and funds in Washington DC this weekend. Read the full story

The Socialist People’s Party of Denmark has accused furniture giant IKEA of cheating the country out of large sums it should be handing over in tax. Read the full story

The International Monetary Fund decided at a meeting this week that conditions are right to end its Icelandic financial revival programme on schedule at the end of this month. The final tranche of funding was also approved by the board. Read the full story

The supervisory arm of the EFTA, the ESA, has given Icelandic authorities a six-week deadline to implement changes to the public sector Housing Finance Fund — the country’s biggest mortgage lender. A formal investigation could take place if the deadline is missed. Read the full story

The ISFI (Icelandic State Financial Investments) has made a recommendation the a swathe of bank branches should close in the name of money saving. Read the full story

The case being brought by the resolution committee of Old Landsbanki against the bankrupt estate of Motormax ehf. will take place at the Supreme Court of Iceland on 6th June in front of seven judges. No case has been heard in front of as many judges since 2004. Read the full story

The Icelandic state’s disposable financial assets last year were negative by ISK 73.7 billion (EUR 458.4 million), which compares to official predictions of a 95.4 billion krona deficit. Read the full story

Legislation regarding unlawfully foreign-denominated loans to Icelandic households has come into force following its enactment by parliament. Financial institutions now have 90 days to convert foreign-denominated automobile loans in accordance with the interest rates published by the Central Bank of Iceland. Furthermore, households with housing mortgages will have the option of converting the loans into inflation-linked loans or non-indexed loans. Read the full story

A quarter of Icelanders’ earnings are going straight into keeping the krona currency alive — according to the head of the Union of Icelandic Electrical Workers. He told reporters that Icelanders living in ‘Kronaland’ are working in a financial sweatshop. Read the full story

The Central Bank of Iceland yesterday lowered its interest rate to its lowest level in six years. The one percent drop to seven percent was bigger than any in recent months. Read the full story