Costa Rica Condones Agriculture Debts
Congress approved a project to condone $13.65 million in debt by small producers.
Wednesday, August 26, 2009
This law waives any debt held with the late Agricultural Trust (Fidagro), and the Productive Reconversion Fund.
Congress passed a bill to forgive any debts related to two agriculture financing programs: “Fideicomiso Agropecuario” and “Fondo de Reconversión Productiva”.
A project approved in the first discussion, which condoned $13.5 million in farmer debt, was turned back for further study.
The government forgave the debt on the condition that the organizations transfer that money into a trust.
Agricultural producers have pointed out that the Colombian economy is in direct competition with the Costa Rican one in terms of production, and they see no profit in a trade agreement.
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