Magdalena Assembly approved debt quota for $300 billion

Magdalena Assembly approved debt quota for $300 billion
Magdalena Assembly approved debt quota for $300 billion

During the extraordinary session of the Magdalena Assembly held today, Tuesday, the vote was carried out in the second debate of the questioned draft ordinance 110, which had the objective of granting Governor Rafael Martínez a debt quota for a total of 300 billion of pesos. Finally, this was approved with a result of 10 votes in favor and 3 against.

The deputies who supported the initiative were Alberto Mario Gutiérrez Uribe, Yohan Alfonso Pinedo Paneta, Rafael Emilio Noya García, María Margarita Guerra Zúñiga, Édgar Gerónimo Arias Ortiz, María del Socorro Charris Pizarro, Linda Cabarcas Suárez, Amed José Zawady Pupo, Rosa Idalia Jiménez Rodríguez and Candy Julieth Sánchez Vásquez.

However, not everyone agreed with the approval. Representative Ángela María Cedeño voted negative, arguing that the project could compromise the financial and budgetary stability of the department, leaving open the possibility of an economic deterioration that would affect public social investment policies.

This is just beginning, we will continue defending the interests of the people of Magdalen and exercising effective political control“Cedeño stated.

Along with her, Marta Liliana García Rivera and Mallath Martínez voted against.

With this approval, Governor Rafael Martínez is granted the power of internal debt to contract loans worth 300,000 million pesos. This quota may be used by him or by the person he delegates, after prior financial, economic and convenience evaluation by the Departmental Administration.

In addition, it is specified that Martínez may pledge income, establish and grant necessary guarantees, as well as agree on interests, terms and other financial conditions in accordance with current legal regulations. The income subject to this authorization includes current income of free use, on the CPM rate and pro-development stamp.

With this approval, Rafael Martínez is authorized until December 31, 2027 to celebrate and subscribe the necessary contracts for public credit operations with commercial banks and/or the credit modality.

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