The country's largest agriculture-focused lender defaulted on its debt in April and has been in talks with creditors since.
It is one of several state firms that have required big bailouts that have placed huge strain on the government's finances.But fiscal pressures and a government directive on the issuance of new government guarantees meant Treasury could not provide the type of guarantees it sought, Land Bank said. It aims to finalise its revised debt plan by the end of March following the government's annual budget due in February.
It still has R4.3 billion in unused government guarantees which could support its new debt plan, it said.
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I went from being broke, homeless, and suicidal, to making $15k per week. My message to you is DON'T GIVE UP! Even when all seems impossible. I STILL work a regular job on top of my business because I’m scared to death to be homeless again. All thanks to DennisWillam77
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