Debt Payment Proposal by Salvadoran Coffee Growers
In the proposal presented by growers they request protection under Decree 263 and for some of the debt to be paid in environmental bonds.
Friday, August 21, 2009
Decree 263 allows agricultural companies to pay delinquent loans by disbursing 15% of the balance in cash.
The growing political paralysis is accentuating problems in the country´s accounts, something the government is trying to compensate by increasing indebtness.
The contribution of $9 per quintal to be made by coffee producers to the trust has been accepted by some and rejected by others.
The Salvadoran Foundation for Coffee Research (Procafé) has submitted a proposal which could be implemented in the U.S. program ‘Asocio para el Crecimiento’.
4 proposals will be presented to the Legislative Assembly, looking to solve the coffee grower's debt problem.
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