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.

Aarón Sequeira, from La Prensa Libre, published comments by representative Jorge Méndez: "The solution,... would be to establish a maximum amount to condone".

More on this topic

U.S.: $16,000 million Less in Farm Subsidies

February 2014

The U.S.'s approval of a new farm bill may increase the competitiveness of the agricultural production in the Central American market.

The U.S. Congress has passed a farm bill that authorizes $956 billion over five years, including subsidies to domestic producers, eliminating direct farm subsidies.

Costa Rica Will Forgive Agriculture Debts

April 2010

Congress passed a bill to forgive any debts related to two agriculture financing programs: “Fideicomiso Agropecuario” and “Fondo de Reconversión Productiva”.

$5.9 million will be forgiven from the first program and $29.3 million from the second. Only small and medium farmers owing less or equal than $19.600 will be entitled to this benefit.

Costa Rica Condones Agriculture Debts

August 2009

Congress approved a project to condone $13.65 million in debt by small producers.

This law waives any debt held with the late Agricultural Trust (Fidagro), and the Productive Reconversion Fund.

Journalist Irene Vizcaíno writes in "Both trusts were absorbed by the Development Banking System, instituted in April 2008".

Government in Honduras forgives $34.5 million coffee sector debt

October 2008

The government forgave the debt on the condition that the organizations transfer that money into a trust.

In other words, producers or exporters that acquired loans will still have to pay them to the organizations with which they are affiliated and these, in turn, will transfer the funds into a trust.

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