La Jornada: They release the debts of more than 41 thousand agricultural producers to Financiera Nacional

This May 11, the federal government released the debt of 41,083 people with the defunct National Financial Institution for Agricultural, Fisheries and Forestry Development (FNDL), which will benefit almost 100 percent of those who had a loan with that institution, reported the Institute to Return What was Stolen to the People (Indep).

This measure, plus the reduction of some larger loans, amounts to 11.12 billion pesos in restructured portfolio, according to what was reported last week during the conference of President Claudia Sheinbaum Pardo.

The condonation that became effective on May 11, after being published on Friday in the Official Gazette of the Federation (DOF) the bases and guidelines for the application of the FNDL’s Return to Grow program, resulted in benefits for 11,763 women and 29,320 small producers, Indep expanded.

Last week, the head of Indep, Mónica Fernández, and the Undersecretary of the Treasury, María del Carmen Bonilla, presented the program to forgive or reduce the debts of FNDL clients, due to extortion of lawyers, portfolios already prosecuted, expiration of guarantees and other anomalies in the credits that for many producers were unpayable.

As for women, there was the aggravating factor that on many occasions they were used as loan sharks to obtain credit that was later not paid, Fernández explained in the morning conference.

Indep detailed that the 11,763 producers whose debt was forgiven had a credit of less than 397,787.7 pesos, and in the case of 29,320 small producers, the financing owed was less than 248,113.4 pesos. He added that if the case was prosecuted, the legal process will be stopped and those accredited will be able to release their guarantees.

On the other hand, for women with credits that exceed 397 thousand 787.7 pesos and men with a balance of 248 thousand 113.4 pesos and up to 10 million pesos, a 30 percent discount will be made on the total debt and the rest can be paid in 12, 24 or 36 monthly payments.