Sri Lanka to write off small-time farmers’ debt 100 percent

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ECONOMYNEXT – Sri Lanka will write off agricultural loans obtained by small-time farmers one hundred percent, Prime Minister Ranil Wickremesinghe told parliament on Tuesday (07).

“We know that farming families who cultivate paddy on small lands are in a very precarious position.  Farmers’ loans obtained by farmers with less than two hectares of land will be stopped immediately,” said Wickremsinghe.

Sri Lanka’s agriculture sector has taken a catastrophic hit due to President Gotabaya Rajapaksa’s overnight shift to organic farming. Compounded by the country’s worsening forex crisis, Sri Lanka is now looking at a possible food shortage around October, as warned by several government officials including Prime Minister Wickremesinghe.

Farmers who have fallen on hard times have been protesting for months demanding fertilizer. (Colombo/May07/2022)

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