The Portuguese Hotel, Restaurant and Similar Association (AHRESP) defends the extension of bank credit default until June 30, 2022 as a measure to support the recovery of companies.
“AHRESP defends the extension of bank default until June 30, 2022, thus supporting the recovery of companies ”, the association says in its daily bulletin, justifying the measure with the fact that the pandemic situation is“ lasting far beyond what would be expected ”.
This circumstance and the new general confinement, with the closure of the restoration, “oblige the adoption of exceptional measures, so that the business fabric is able to guarantee” the sustainability of business and the maintenance of jobs.
Since April, thousands of customers have not been paying loans to banks, making use of the Government decree-law that allows for loan default, created as an aid to families and companies penalized by the economic crisis triggered by the pandemic.
On September 24, the Council of Ministers decided extend for six months, until September 30, 2021, the deadline for credit default on families and companies that ended March 31.
However, the extension approved in September provides different solutions for companies depending on the sector in which they operate and the impact of the pandemic on their activity.
Thus, companies in sectors particularly affected by the pandemic, namely those of tourism, culture, the social sector or car repair and trade, will benefit from the extension of the moratorium. until september 30 in the exact molds that were defined until March 31, that is, they will continue to benefit from the suspension of payment of the outstanding capital and interest.
For the remaining companies that are currently covered by the moratoriums, the extension maintains the suspension of the payment of capital, but not of interest.