IFA urges banks to engage with farmers constructively on debt

IFA president John Bryan has urged all banks to engage constructively with farmers and small companies whose debt levels are threatening the viability of otherwise sustainable businesses.

“IFA is promoting a loan-restructuring strategy with banks where farmers would agree to dispose of non-core assets, with the balance of the debt restructured to a level that ensures viability for the farm business and a living for the farm family.”

Mr Bryan said that only a few years ago the banks were falling over themselves to lend to businesses and, with the benefit of hindsight, some of this lending was reckless.