GFM Network News


A stockman rides his horse as he leads another down a road towards the cattle yards in the outback town of Windorah, Queensland, Australia. The Australian agriculture sector says lenders need more oversight and better understanding of the ups and downs of agriculture.

Australian banks face rural lending reckoning

Agriculture borrowers say banks need a shorter leash and call for a compulsory farm debt mediation system

Reuters – Australian potato farmer Tom Fox says he had never missed a bank payment in two decades before a delay sending a shipment to Indonesia during a trade dispute between the countries prompted his lender to force him into receivership in 2013. “I got a letter from the bank lawyers saying I had 12 […] Read more