COPENHAGEN: Icelandic Prime Minister Katrin Jakobsdottir announced her resignation on Friday and said that she will run for president, a ceremonial post that is mostly above the daily political fray.

It was not immediately clear who would succeed her as prime minister, a job 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 I still have a burning desire to continue to offer my services to Icelandic society,” Jakobsdottir said in a video message. Iceland will hold a vote on June 1 to elect its new head of state.

The island nation of almost 400,000 people faces uncertainty after recent volcanic eruptions that triggered the indefinite evacuation of thousands, adding to pressures on an economy already facing high inflation and soaring interest rates.