{"id":7682,"date":"2017-06-13T09:16:22","date_gmt":"2017-06-13T09:16:22","guid":{"rendered":"http:\/\/progresomicrofinanzas.org\/?p=7682\/"},"modified":"2017-11-16T15:47:15","modified_gmt":"2017-11-16T15:47:15","slug":"special-agrarian-restructuring-law","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/special-agrarian-restructuring-law\/","title":{"rendered":"Special Agrarian Restructuring Law"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/7682?print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/pdf.png\" alt=\"image_pdf\" title=\"View PDF\" \/><\/a><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/7682?print=print\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><\/a><\/div><p><span style=\"font-weight: 400;\">As part of its Agrarian Debt Restructuring reform, the Peruvian Congress has passed a Special Agrarian Restructuring Law, to provide financial facilities to those farming producers affected by natural disasters in areas declared to be in a state of emergency resulting from the Coastal Ni\u00f1o phenomenon. The law affects those with unpaid debts with institutions in the financial system that are regulated by the Banking, Insurance and Pension Fund Administrators authority (IFIs), and makes provisions to eliminate the unpaid debts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Special Agrarian Restructuring Programme <\/span><b>(i)<\/b><span style=\"font-weight: 400;\"> gives farming producers affected by natural disasters who are in areas that have been declared to be in a state of emergency, and who have outstanding debts with IFIs, a discount coupon; and <\/span><b>(ii)<\/b><span style=\"font-weight: 400;\"> refinances the corresponding debt balances, after applying this coupon.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IFIs will determine who is eligible to be a beneficiary of the Special Agrarian Restructuring Programme (SARP); the deadline to present applications is 31st December 2017.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The SARP will cover debts with an unpaid balance of up to 5 tax units (UIT)* or their equivalent in US dollars, to which end the Ministry of the Economy and Finance has been authorised to transfer PEN 20 million to Agrobanco, which in its turn will be responsible for managing the SARP.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The discount coupon will have a ceiling of 1.5 tax units on the debt, the debt being the capital, interest, late payment penalties and other expenditure incurred.<\/span><\/p>\n<p><b>Debt restructuring and reprogramming<\/b><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\">Restructuring of the outstanding debts will be applied as follows:<\/span><\/li>\n<li><span style=\"font-weight: 400;\">80% discount coupon on debts of between 1.5 and 3 tax units or the equivalent in US dollars, of the debt without capital.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">50% discount coupon on debts of between 3 and 5 tax units or the equivalent in US dollars, of the debt without capital.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The balance of the remaining debt will be refinanced at interest.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<div class=\"progreso-foot-notes\">\n<p>*\u00a0One UIT (Unidad Impositiva Tributaria) is worth PEN 4,050.00 in 2017<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As part of its Agrarian Debt Restructuring reform, the Peruvian Congress has passed a Special Agrarian Restructuring Law, to provide financial facilities to those farming producers affected by natural disasters in areas declared to be in a state of emergency resulting from the Coastal Ni\u00f1o phenomenon. The law affects those with unpaid debts with institutions [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":7591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[2227,2228,2231,400,2230,673,2229,640],"class_list":["post-7682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-agrarian-debt-restructuring-reform","tag-agrarian-reform","tag-debt-restructuring","tag-economy","tag-farming-producers","tag-finance","tag-natural-disasters","tag-peru-en-2","numero-11-en","seccion-published-and-draft-legislation-microfinance","pais-peru-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Special Agrarian Restructuring Law<\/title>\n<meta name=\"description\" content=\"As part of its Agrarian Debt Restructuring reform, the Peruvian Congress has 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