Iceland's PM to run for president

Iceland's Prime Minister Katrin Jakobsdottir announced on Friday that she would resign from her current position to run for president in the June election, according to Iceland's national broadcaster RUV.

Jakobsdottir made the announcement in a Facebook video.

Born in 1976, Jakobsdottir has been prime minister since November 30, 2017.

In Iceland, presidential elections occur every four years, and this year's contest is scheduled for June 1. Incumbent president Gudni Johannesson has announced he will not seek a third term. The number of presidential terms is not restricted by law in Iceland.

Eligible candidates must collect a backing of at least 1,500 advance signatures to be able to enter the race. The presidential election takes place on a simple majority of votes basis. Candidates must be Icelandic citizens and at least 35 years of age on election day.