LONDON — Iceland is on the verge of holding a snap election as Prime Minister Bjarni Benediktsson has decided to end the current fragile governing alliance in the country.

On Monday, the Prime Minister is anticipated to request President Halla Tómasdóttir to officially dissolve the Althingi, Iceland’s parliament, paving the way for elections scheduled for November 30, as reported by national broadcaster RUV.

Benediktsson’s center-right Independence Party has been in power since April, sharing governance with the centrist Progressive Party and the Left Green Movement. However, the coalition has encountered significant disagreements on various issues, such as immigration policies, energy affairs, and economic strategies.

Iceland is a remote island located near the Arctic Circle, with a population close to 385,000. The nation has recovered from years of economic turmoil following the collapse of its highly indebted banks during the financial crisis of 2008. Today, it stands as a popular destination for tourists, drawn by its spectacular glaciers, majestic waterfalls, the mesmerizing Northern Lights, and its numerous active volcanoes.

Additionally, ongoing volcanic activity on the Reykjanes Peninsula in the southwestern region has led to the evacuation of thousands and has placed a strain on public resources.