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 proposal for part of the debt to be paid through the sale of environmental bonds ... there was talk of creating a solidarity fund, that would charge $0.001 for every 1.000 KW of energy generated and a similar amount for every cubic meter of water used by bottling companies", reported newspaper La Prensa Gráfica.

More on this topic

Tax Problems in Guatemala

October 2015

The growing political paralysis is accentuating problems in the country´s accounts, something the government is trying to compensate by increasing indebtness.

In light of the Monetary Board´s approval of another issue of treasury bonds, worth $1.4 billion, criticism has arisen from economic analysts, who criticize the debt as an easy solution chosen because of an unwillingness to increase revenue and control rises in spending.

Honduras Opposes Contribution to Coffee Trust

February 2014

The contribution of $9 per quintal to be made by coffee producers to the trust has been accepted by some and rejected by others.

Arguing that the retention of $9 per quintal is not beneficial for producers, two deputies have submitted a draft law that seeks to eliminate it.

Project to Revive Coffee Production in El Salvador

April 2012

The Salvadoran Foundation for Coffee Research (Procafé) has submitted a proposal which could be implemented in the U.S. program ‘Asocio para el Crecimiento’.

The entity is making the final adjustments to the document to be submitted to the government in July. The focus of the proposal is the revival and mass cultivation of coffee on 106,000 acres of land.

El Salvador: Coffee Growers Suggest Payment Options

August 2009

4 proposals will be presented to the Legislative Assembly, looking to solve the coffee grower's debt problem.

Mario Acosta Oertel, president of the Salvadoran Foundation for Coffee Research (PROCAFE), considers the proposals to be "viable, reasonable and sensible".

More comments by Acosta were reproduced in newspaper La Prensa Gráfica: " ...this proposals seek a consented agreement on the grower's debt, which now stands at $300 million...".

 close (x)

Receive more news about Economics

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Partner needed for financing/construction in Punta Leona, CR

I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction.
Wanted partner for financing and/ or construction in the...

Stock Indexes

(Apr 25)
Dow Jones
1.12%
S&P 500
0.61%
Nasdaq
0.70%

Commodities

(Apr 26)
Brent Crude Oil
52.230
Coffee "C"
133.35
Gold
1,265
Silver
17.570