Iceland Defies Creditor Backlash With Debt Relief: Nordic Credit
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Iceland’s government is preparing to unveil a proposal that will make it a world leader in providing debt relief to households even as creditors and economists warn the measures risk backfiring.
The government has promised to deliver recommendations on how to relieve consumers burdened by mortgages linked to inflation this month. It has previously flagged it would force write downs on such loans and also provide new tax deductions on interest rate payments.