Government debt relief programs are initiatives designed to reduce or eliminate the debt owed by individuals or organizations to government entities. These programs can take various forms, such as debt forgiveness, debt consolidation, or reduced interest rates.
Debt relief programs can be implemented for several reasons, including economic stimulus, financial stability, and social welfare. They can provide individuals and organizations with a fresh start, reduce the burden of debt, and improve their financial well-being. Historically, debt relief programs have been used to address economic crises, such as the Great Depression and the 2008 financial crisis.