Sunday 25 September 2022

El Salvador puts payment of utility bills, mortgages, loans and credit cards on hold

Those affected by the coronavirus covid-19 will not have to pay their bills for up to 3 months and then have 2 years to pay accrued charges without affecting creditworthiness or incur interest charges

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El Salvador will take steps to limit the economic impact for people and businesses affected by the coronavirus outbreak, including suspending charges for some services, the government said on Wednesday.

A woman carries rolls of toilet paper this Friday in San Salvador, El Salvador

Despite the best efforts of Salvadoran President Nayib Bukele to prevent the covid-19 from entering the country, such as closing its borders to a near lockdown, El Salvador on Thursday reported its first confirmed case.

Finance Minister Nelson Fuentes told a news conference the measures would only apply to people or businesses affected by the pandemic, which has pummeled financial markets and upended life around the globe.

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For a three-month period, the affected will be exempt from payments for electricity, water, mortgages and personal loans, credit cards, telephones, cable and internet, among other services, Fuentes said.

Once the three months are up, payment of the charges accrued will be spread over two years, without risk of default or damage to creditworthiness. Nor will they face interest charges.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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