Costa Rican Congress Halts Debt Condonation
A project approved in the first discussion, which condoned $13.5 million in farmer debt, was turned back for further study.
Friday, August 28, 2009
Representatives halted approval of the law in the second discussion, after realizing there were major producers among the beneficiaries.
Congress passed a bill to forgive any debts related to two agriculture financing programs: “Fideicomiso Agropecuario” and “Fondo de Reconversión Productiva”.
Congress approved a project to condone $13.65 million in debt by small producers.
The government forgave the debt on the condition that the organizations transfer that money into a trust.
The U.S.'s approval of a new farm bill may increase the competitiveness of the agricultural production in the Central American market.
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