Ingimundur Friðriksson appointed Governor of the Central Bank of Iceland
The Office of the Prime Minister of Iceland today issued the following announcement: “The Prime Minister has today accepted a request by Jón Sigurðsson, Minister for Industry and Commerce, to be relieved of his duties as Governor of the Central Bank of Iceland. At the same time the Prime Minister has appointed Ingimundur Friðriksson, Assistant Governor, to the post of Governor
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Changes in the Board of Governors
Jón Sigurðsson, Governor of the Central Bank of Iceland, was appointed Minister of Industry and Commerce in the Government of Iceland, effective from June 15, 2006.
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Central Bank Balance Sheet at end-May 2006
The following table shows the Central Bank of Iceland’s Balance Sheet as at the end of May 2006 with comparative figures for the end of April 2006 and end of December 2005.
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Balance of payments in the first quarter of 2006 and the external position
The deficit on Iceland’s current account in the first quarter of 2006 amounted to 66.3 billion kr. according to preliminary figures from the Central Bank. Over the corresponding period in 2005, the deficit was 32.6 b.kr.
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Standard & Poor's Revises Republic of Iceland Outlook To Negative On Hard Landing Risk; Ratings Affirmed
On June 5, 2006, Standard & Poor’s Ratings Services revised its outlook on the Republic of Iceland to negative from stable on the increasing likelihood of a hard landing for the country’s economy. At the same time, Standard & Poor’s affirmed its long-term ‘AA-’ foreign and ‘AA+’ local, and its short-term ‘A-1+’ foreign and local currency sovereign credit ratings on the republic.
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