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Article: Tajik banks want govt to extend deadline for cotton loans repayment.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- March 18, 2009
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Tajik banks want govt to extend deadline for cotton loans repayment
DUSHANBE. March 18 (Interfax) - Two major commercial banks of Tajikistan have asked the government to extend the deadline for the repayment of credits provided to cotton growing farms, which are suffering losses given a drop on the purchasing prices for cotton fiber, bankers said at a joint news conference on Wednesday.
Tajikistan last year declined to make use of futures companies which supplied fertilizers, fuel and lubricants to farmers at overstated prices in exchange for the future cotton.
Tajik cotton companies' debt to futures companies grew to $500 million. The ...