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Government Wipes Patagonian Farm Debt After Volcano, Drought

15 July 2015

ARGENTINA – Measures to address severe natural disaster in Patagonia have exempted some sheep farmers from loan and interest payments on state borrowings.

Carlos Casamiquela, minister of agriculture, livestock and fisheries, wiped debts for small and medium sheep operations – farms of up to 5,000 head – on finance dated prior to 4 June 2011 yesterday.

He said producers hit by drought conditions and volcanic ash need support with their “recovery and development”.

The Fund for the Recovery of the Sheep Activity (WARF) provides lending to be repaid seven years after borrowing, including a two year grace period allow farm businesses to stabilise. 

Each province will verify individual businesses for exemption, the government explained.

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