Guadalajara awaits green light from Congress for debt restructuring

The restructuring of the debt of the municipality of Guadalajara was approved in the ordinary session of the city council and referred to the State Congress for its authorization.

The refinancing proposal, which includes approaches from Hagamos, PRI and PAN councilors, establishes that the term of the debt does not exceed 15 years and that the rates and rates are lower than those currently paid.

The current debt, of one thousand 400 million 393 thousand 978 pesos, it was approved by a majority in the council with 15 votes in favor, 3 against (Morena) and zero abstentions.

“Assuming our responsibility that we have as representatives of the citizenry, we conclude that the approval of this initiative is undoubtedly for the benefit of the society of Guadalajara, since they will be materialized in public works that will improve their quality of life. In addition, without failing to fulfill our task of having healthy public finances, reducing risks and achieving a balance in the municipal economic capital”, said Patricia Guadalupe Campos Alfaro, President of the Building Commission of Public Finance and Municipal Heritage.

The debt must be concluded in 2037 to two banking institutions, with monthly payments, and the resources that will be freed will not be allocated to current spending but to public investments.

In addition, the financing will be fixed with the interest rates that offer the best conditions in the market, they will not hire third parties for advisory services, management or any other type of support.

Previously, the councilor of Hagamos, Tonatiuh Bravo Padilla, stated that refinancing the debt, you can be saving 100 and 120 million pesos annually for economic reactivation and infrastructure construction.

The Congress of the State of Jalisco is the only one that has the authority to authorize debt or restructuring processes requested by the municipalities.

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