Guatemala: Land Fund Forgives Delinquencies

The institution will forgive accumulated and delinquent payments for those lands purchased with the Land Fund (Fondo de Tierras).

Thursday, April 2, 2009

The measure to forgive all interests on surcharges for delinquencies and 99% of accrued interests applies to loans requested between 1998 and March 2009. The charges will be reset after January 1, 2011. "Therefore, the amnesty also includes interest on loans between 2009 and 2010."

According to an article in Prensalibre.com, the manager of the Land Fund (FONTIERRAS), Luis Fernando Peña, said: "The hope is that with this dissipation (of interests) we can recover capital, but the most important factor is that there would be a reduction of land conflicts because of debt accumulation."



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