Argentina Failed to Honor Banana Debt

2023-12-01

As of December 1, Argentine importers of Bolivian bananas were supposed to pay off the entire debt of $ 12 million in the US, and to date, they have yet to do so. According to the agreement signed before the general elections, it was established that 1 million dollars would be deposited daily until the debt was completed to lift the blockade that was being carried out in Yacuiba. $US $3 million had been paid initially, and the rest was agreed to be paid in instalments. 

Agustín Conde, president of the Community Organization of Banana Producers of the Tropics, expressed his concern about the default, and uncertainty is growing due to the lack of clarity about the attitude that the new government will take towards this debt. Growers are uneasy as they have failed to meet their suppliers. Despite the debt, the product has continued to be shipped with the prior authorization of the Argentine government. 

To avoid problems, banana producers have reached a private agreement to export an average of 150 trucks daily. 

However, the Argentine press reported that bananas are becoming scarce in the local market due to problems importing the product. Two weeks ago, the shortage of bananas began to be felt by up to 40%.