It is vital for the survival of the seafood business and the country as a whole for the government to reduce interest rates immediately, said Gudmundur Kristjansson, managing director of fishing and processing company Brim, in an interview with Icelandic state radio.
Interest rates in Iceland need to be brought down to 3 percent to 4 percent, he said.
Although high interest rates are not yet a serious problem for vessel operators, he is certain they will be soon as fish prices have been reported to be dropping and stocks start to pile up in cold storage.
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