Bjarni Benediktsson said on Tuesday he will become the country's next prime minister, replacing Katrin Jakobsdottir who last week announced she would resign and run for president, public broadcaster RUV reported.
Benediktsson, head of the pro-business, right-wing Independence Party, now serves as foreign minister in a broad three-party coalitionand was previously prime minister in a short-lived government from January to November of 2017.
He takes the helm at a time of uncertainty in Iceland after recent volcanic eruptions triggered the indefinite evacuation of thousands of people, adding to pressures on an economy already facing high inflation and soaring interest rates.