24. Is there a ban on political parties taking loans in relation to election campaigns?

Iceland

Iceland

Answer
No
Source

Article 21: If a campaign is financed through borrowings, a detailed account shall be given of the lender, the amount of the borrowing and lending terms in the notes in the financial report of the campaign. If the term of a loan extends beyond the accounting period, the National Audit Office shall be informed annually of the position of the debt of the campaign. Cancellations of debts and obviously favourable loan terms shall be assessed as a contribution by the lender to the campaign.

Rules on the financial accounts of political parties - National Audit Office (2007).

Comment

If a campaign is financed through a loan, details must be provided on the identity of the lender, the amount of the borrowing and the lending terms.

Close tooltip