Marcos orders moratorium on land amortization, interest payments

President Marcos signed an executive order imposing a year-long moratorium on payments on the annual amortization and interest payments of agrarian reform beneficiaries for agricultural lands distributed under the Comprehensive Agrarian Reform Program , the Department of Agrarian Reform said.The order seeks to relieve the ARBs of their debts, allowing them to use the money to develop their farms, maximizing their capacity to produce and propelling the economy’s growth.

“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,” he said in a statement. In his first State of the Nation Address , Marcos said: “The condonation of the existing agrarian reform loan will cover the amount of P58.125 billion benefiting around 654,000 ARBs and involving a total of 1.18 million hectares of awarded lands.”

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