Bjarni Benediktsson, a member of the right-wing Independence Party, has announced his plans to take over as Iceland’s next prime minister. This follows the decision of the current Prime Minister, Katrin Jakobsdottir, to step down and pursue a run for the presidency. Benediktsson currently serves as the foreign minister in a coalition government consisting of three parties. He had previously held the position of prime minister for a brief period from January to November 2017.
His ascension to power comes amidst a backdrop of uncertainty in Iceland. Recent volcanic eruptions have forced the evacuation of thousands of people, adding strain to an economy already grappling with high inflation and soaring interest rates.
Benediktsson’s political career has seen him hold significant positions within the government. During his time as finance minister in Jakobsdottir’s administration, he initiated measures to reduce the state’s control over the banking sector, a move aimed at addressing the aftermath of the 2008 financial crisis.
However, Benediktsson’s previous stint as prime minister was cut short due to political instability. Less than a year into his term, a coalition partner withdrew support, leading to a snap election.
In the new government lineup, Sigurdur Ingi Johannsson, leader of the centre-right Progressive Party and a former prime minister himself, is set to assume the role of finance minister. This transition marks a significant shift in Iceland’s political landscape, with Benediktsson poised to lead the nation through challenging times while Johannsson takes charge of economic affairs.
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