Gjaldstovan director steps down after 35 years

Leif Abrahamsen, who has led Gjaldstovan for 35 years, will leave the post on November 1, KVF reports.

Abrahamsen was 32 when he became director in 1991. The appointment quickly became a baptism of fire: just one year later, the Faroe Islands were hit by a severe economic crisis as banks collapsed and the treasury ran out of money.

He has agreed with the Ministry of Finance to remain available as an adviser after leaving. The ministry will soon begin looking for a new director for Gjaldstovan.

Abrahamsen will be a guest on the radio news at 12:20.