Petro would declare an economic emergency if the debt quota is not expanded

Petro would declare an economic emergency if the debt quota is not expanded
Petro would declare an economic emergency if the debt quota is not expanded

This is how President Gustavo Petro explained it this morning in a trill. “The debt quota is to pay the current debt with new debt, hopefully cheaper. If the third commissions do not approve the project, either there is a cessation of payments or I have to declare an economic emergency. “I will not hesitate to do so,” the president wrote.

What is this project about? It proposes expanding the current State debt to up to 17.6 billion pesos. It has been in Congress since March 19, it has an urgent message and the first debate of the joint Senate and House committees is scheduled for next Tuesday.

The minister sends a message of tranquility. “This project is being processed in all governments, in this case it is about examining what happened to the debt quota that was approved in the middle of the pandemic for up to 70 billion dollars. But the government at that time took credits for up to 6 billion that are outside the quota,” said the Minister of Finance, Ricardo Bonilla, today. He said that it is not about putting the country into more debt.

The minister also reiterated, toning down Petro’s warning, that the government has been fulfilling and will continue to fulfill its national and international responsibilities.

 
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