Iceland to strengthen foreign reserves

In recent months, the Ministry of Finance and Central Bank of Iceland have been engaged in discussions on strengthening the Central Banks foreign reserves, the central bank said Friday 3 November.

The Icelandic financial sector has expanded significantly in recent years and foreign investors have become active in domestic trading. Both these developments give grounds for strengthening the Central Banks external position.

On behalf of the Ministry of Finance, the Central Bank has mandated Barcl