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.

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El Salvador: Coffee Growers Suggest Payment Options

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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...".

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