Valdar greinar úr viljayfirlýsingu til AGS

Í dag var birt á vef Alþjóðagjaldeyrissjóðsins, endurnýjuð viljayfirlýsing íslenskra stjórnvalda frá 29. september síðastliðnum. Ég birti hér valdar greinar úr yfirlýsingunni sem snúa að skuldavanda heimilanna:

10. We remain committed to a targeted, voluntary approach to debt restructuring. Moreover, we are determined to see the work through to a conclusion as soon as possible and in particular to ensure that the frameworks we have designed for household and corporate debt restructuring function efficiently and productively. While we remain committed to simplifying the process, we have ruled out an across-the board debt write down (e.g., for borrowers not affected by the Supreme Court ruling on foreign exchange indexed loans). This reflects the enormous and unaffordable fiscal cost, the need to preserve an operating and stable banking system, and the detrimental impact this would have on Iceland’s payment culture. We will continue to focus attention on the distressed borrowers who fortunately remain a minority of total borrowers.

11. We have amended Iceland’s voluntary framework for household debt restructuring (meeting the end-June structural benchmark). Key aspects of the changes include the establishment of a Debtor’s Ombudsman (to provide advisory and mediation services to debtors, and help address creditor hold-out problems); and the extension of the framework to several classes of solvent borrowers who have not previously been eligible (e.g., individuals having some debts arising from business activities). We have implemented changes to forced auctions to address market failures and have also clarified the conditions under which debtors can temporarily remain in a foreclosed home (they must pay market rent and can be asked to provide a guarantee against damages). Guidelines provide for a minimum stay of 6 months (and longer if specific social criteria are met). Finally, we will encourage banks to offer debtors the option of short-selling their properties, and we have removed tax disincentives for households that receive relief.

12. With the framework now finalized, our focus will be on encouraging greater participation by households. We set up in August the new Debtors’ Ombudsman’s Office, and are scaling its operations up (including via outsourcing), and engaging in enhanced public outreach to explain the framework. This should help quickly guide debtors through the many options available to them. Finally, with the framework in place, we are proceeding as planned to remove temporary post-crisis measures—like the moratorium on home foreclosures—the continuance of which represent a barrier to debtor participation.