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| Caribbean-Latin America |
| Political crisis deepens for Moreira |
| 2011-08-26 |
| By Chris Covert To read the previous Rantburg story on the Moreira political crisis, click here Problems for Partido Revolucionario Institucional leader Humberto Moreira deepened Thursday as the Mexican Minister of Public Finance, Ernesto Cordero filed a criminal complaint with the Ministry of the Interior (SEGOB), according to Mexican news accounts. The complaint does not name anyone and it is a request for SEGOB to begin investigating how the public debt for Coahuila state under former governor Moreira exploded from MP $323 million (USD $26,177,373.50) to more than MP $32 billion (USD $259,342,400.00) when he left office last March. A Partido Accion Nacional (PAN) fvestors Service. A late report Wednesday quoted Coahuila's Servicio de Administracion Tributaria del Estado de Coahuila (SATEC), Ismael Ramos Flores, as saying he was currently in negotiations with ten banks to put the current public debt of Coahuila state on a short term financing basis, which, as the article has pointed out, will place even more pressure on interest rates Coahuila must pay to service the debt. At a press conference Cordero is reported as saying that his ministry detected "irregularities" in reporting of efforts to refinance pubic debt. Some public officials with Coahuila state, albeit not Moreira are already facing possible charges for crimes related to contracting and servicing the debt including falsification of public documents and failure to properly disclose the debt Coahuila has acquired. Public officials include a former aid to Moreira, Javier Villareal. According to a Reforma article, the president of the Junta de Gobierno del Congreso de Coahuila, Fernando de las Fuentes said that the short term financing was necessary to obtain more favorable terms for longer term financing. In a Thursday article Reforma reported that as soon as he won election July 3rd as Coahuila's governor, Ruben Moreira, who is Humberto's brother, began plans to cut at least three social/income support programs instituted or maintained by his brother Humberto in 2007 in order to rein in public expenditures. Included planned cuts are an elderly meal subsidy program called Comedores de la Gente Mayo which provided meals to 1,500 elderly clients, Tarjeta del Hogar which provided an income supplement of up to MP $200 (USD $16.01) a month and Seguro Escolar which provided free health care to students and employees of Coahuila's educational system. According to an El Universal news daily article, the per capita debt load in Coahuila is four times the national average. The current per capita debt for Coahuila is MP $11,633 (USD $130.72). Juan Pardinas, president of the Instituto Mexicano para la Competitividad said debt in Coahuila increased 284 percent since 2005, which would emcompass part of the governor's term just prior to Moreira's. |
| Posted by:badanov |
| #1 Watch the southern land. These things will become big things to US on the long and short. |
| Posted by: newc 2011-08-26 01:41 |