Homeowners Can Apply for Debt Cancellation in May

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Homeowners Can Apply for Debt Cancellation in May

By Zoë Robert
Bjarni Benediktsson and Sigmundur Davíð Gunnlaugsson

Finance Minister Bjarni Benediktsson and Prime Minister Sigmundur Davíð Gunnlaugsson presenting the government's Debt Relief Plan last year. Photo: Páll Stefánsson.

The government announced that it hopes that it will be able to open a web portal for applications for debt cancellation as of May 15. Finance Minister Bjarni Benediktsson announced the news on RÚV yesterday. 

The public will have three and a half months to apply.

Parliamentary bills will be presented to parties in parliament today and a press conference is scheduled.

An estimated ISK 80 billion (USD 704 million, EUR 510 million) of the state budget has been set aside for the debt cancellation but the entire scope is for ISK 150 billion. Next year’s budget will take this amount into consideration, ruv.is reports.

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