The Prime Minister of Iceland Katrin Jacobsdottir announced her resignation today and her intention to run for the country’s presidency, a largely ceremonial post.
It was not immediately clear who would succeed Jacobsdottir as prime minister, a position she has held since late 2017.
“I had decided some time ago not to seek re-election in the next parliamentary elections. At the same time, I still have a burning desire to continue to offer my services to Icelandic society,” Jakobsdóttir said in a video.
Iceland will hold elections on June 1 to elect a new head of state.
The island nation of nearly 400,000 faces an uncertain future after recent volcanic eruptions forced thousands of people to evacuate indefinitely, adding pressure to an economy already struggling with high inflation and extremely high interest rates.
However, Jacobsdottir said she believed the government had made significant progress on the challenges and that the country was on a firmer footing than a few months ago.
The prime minister played a key role in maintaining the current coalition of the Left-Green Movement party, the Independence Party and the centre-right Progressive Party.
The government has been in power since 2017, providing unusual stability in a country that experienced five elections from 2007 to 2017, a period marked by political scandals and distrust of politicians following the 2008 financial crisis.
Source: RES-MPE
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