Tunisian Parliament Adopts Article 59 of the Finance Law
The Tunisian Parliament has adopted Article 59 of the finance law, introducing measures to settle and restructure debts owed by farmers to public and private banks. This decision was approved by 93 votes.
Key Provisions
According to the text, banks are required to settle all debts contracted by farmers and companies active in the agricultural sector, including production, agricultural services, and processing of agricultural products, classified as "category 2" or higher by the Central Bank of Tunisia. Financing can come from state budget resources or the banks' own resources.
Debt Restructuring
The repayment can be rescheduled over a maximum period of 10 years, including a one-year grace period, with cancellation of late payment penalties and waiver of 50% of the initial contractual interest.
Exceptions
However, the following are excluded:
- Debts granted without guarantees, for which the Central Bank will set the conditions and terms of application
- Debts subject to judicial proceedings for corruption or money laundering, unless a final judgment of non-guilt is rendered
Objective
This measure aims to support the agricultural sector by providing significant relief to farmers while preserving the rigor of the legal and financial framework.
