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EO issued for 'year-long' moratorium on farmers' payment of land amortization

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Job Manahan, ABS-CBN News

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Farmer Dulo Ramirez, 83, salvages whatever he can from his cornfield in Tuguegarao on August 24, 2022 after most of the crops were damaged by the onslaught of tropical storm Florita. Jonathan Cellona, ABS-CBN News' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2022/news/09/13/20220824-florita-tuguegarao-cornfield-jc-2193.jpg' ><figcaption>Farmer Dulo Ramirez, 83, salvages whatever he can from his cornfield in Tuguegarao on August 24, 2022 after most of the crops were damaged by the onslaught of tropical storm Florita. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA (UPDATE)— President Ferdinand Marcos, Jr. on Tuesday approved a one-year moratorium on the amortization of agrarian reform beneficiaries (ARBs), fulfilling his promise to ease the debt burden of farmers, the agrarian reform department said.</p><p>"Marcos, Jr. today signed the Executive Order imposing a year-long moratorium on payments on the annual amortization and interest payments of ARBs for agricultural lands distributed under the Comprehensive Agrarian Reform Program (CARP)," the Department of Agrarian Reform (DAR) said in a <a href='https://www.dar.gov.ph/articles/news/103830?fbclid=IwAR0-hhj6DmTzfD-k_u5lBKlWjiEHMuOqxKkdjAuyRfiJcxogNIMOsTg9o20'>press release</a>.</p><p>The President first revealed the move during his first State of the Nation Address (SONA) in July, saying this opportunity could "unburden" farmers and boost their productivity. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/news/07/25/22/marcos-vows-to-ease-farmers-debt-burden'>Marcos to issue EO easing farmers' debt burden, urges Congress to condone loans</a></li></ul><p>DAR Secretary Conrado Estrella III said the EO was issued "in preparation" for the call of the President to pass a measure that would condone the loans of agrarian reform beneficiaries who still have unpaid amortization. </p><p>“We always think about the farmers’ welfare. The one-year moratorium and condonation of farmers’ loan payment will lead to freedom of farmers from debts,” Estrella said.</p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2228973' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div><div style="text-align: center;"><em><strong>Video from RTVM</strong></em></div><p>The DAR chief vowed to work with Congress to amend the Comprehensive Agrarian Reform Law on easing the debt payment, and called on legislators to pass a measure that would condone the loans of ARBs with unpaid amortization and interest.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/news/07/26/22/marcos-eo-easing-farmers-debt-burden-may-be-out-this-week'>Marcos may issue EO easing farmers' debt burden this week: DAR chief</a></li></ul><p>The proposed debt condonation covers some P58.125 billion and 654,000 beneficiaries in 1.18 million hectares of awarded lands, said Marcos.</p><p>Members of the media have yet to receive a copy of the EO, which the Official Gazette has yet to publish. </p><div><strong>WATCH</strong></div><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2140656' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

DAR chief Conrado Estrella III said the EO is 'in preparation' for the call of Marcos to pass a measure condoning the loans of agrarian reform beneficiaries who still have unpaid amortization.

EO issued for 'year-long' moratorium on farmers' payment of land amortization

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EO issued for 'year-long' moratorium on farmers' payment of land amortization

Job Manahan,

ABS-CBN News

Published September 13, 2022 12:53 PM PHT

|

Updated September 13, 2022 04:28 PM PHT

Read More:

Marcos

Bongbong Marcos

Ferdinand Marcos Jr

EO

executive order

land amortization

land amortization moratorium

moratorium on land amortization

agrarian reform

agrarian reform beneficiaries

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