By John Lee.
Iraq's Minister of Finance has directed the Agricultural Cooperative Bank to postpone the payment of debts owed by farmers for a period of two years.
Dr. Ali Allawi (pictured) said:
"Based on Article Thirteen of the Food Security Law, it was decided to postpone for a period of two years the collection of government debts owed by farmers and farmers who wish to postpone the payment of loans and whose loans do not exceed 400 million dinars from the loans of the Agricultural Bank and the Agricultural Initiative in all governorates of Iraq."
He added that no interest will be charged during the postponement period.
(Source: Media Office of the Minister of Finance)