While some trade headwinds are expected to hit Iceland in 2023, the country is focused on the fourth pillar of its economy: innovation.

The restructuring of Iceland’s banking sector following its spectacular implosion has meant that the industry is in a much stronger position today than it was back in 2008. 

Nasdaq First North has an important role to play in supporting innovative companies, and providing exciting opportunities for investors, providing they understand the risks, explains Adam Kostyál, head of European listings at Nasdaq.

As part of its journey back to prosperity after a severe recession, Iceland made a belated return to the international markets with a successful bond issuance. David Wigan reports.

Iceland’s finance minister, Bjarni Benediktsson, talks about economic recovery, plans to stabilise the banking sector and why the country will not be joining the EU any time soon.  

Iceland's banking sector has recovered impressively from its 2008 collapse, and the banks formed from the ashes of that period are performing well. However, the clouds of the past still linger, and the winding-up processes of the failed Kaupthing, Glitnir and Landsbanki are still to be resolved.

Iceland's rebuilding efforts following its economic collapse have borne some fruit, with the IMF predicting 2.5% growth for this year, but the country is still faced with a number of challenges.