Debt relief initiatives proposed for Argentine employees and Ecuadorian farmers

In Río Negro, Argentina, the provincial government has announced a plan to address the high levels of debt among public employees. Finance Minister Gabriel Sánchez stated that the initiative includes a decree to reinstate a cap on salary retentions, which could range from 30% to 50% through a progressive reduction scheme. The goal is to prevent employees from receiving net salaries of zero. The plan also involves negotiating debt terms with unions, mutuals, and financial entities, alongside the future implementation of a debt authorization center.

In Ecuador, farmers from Los Ríos and other provinces have petitioned President Daniel Noboa for financial relief following significant crop losses. The group, representing the Babahoyo Irrigation and Drainage System Users General Board, is requesting extraordinary credit measures to prevent a financial crisis. Their proposal includes deferring capital and interest payments for up to 180 days and requesting grace periods of up to 12 months for specific cases. They seek intervention to facilitate debt restructuring with public banks, private banks, and credit cooperatives.