Today there is a lot of talk about the very expensive line that Meade negotiated with the IMF. Not only because it involved a huge non-recoverable disbursement, but also because it is well known that it is a source of very high social cost, given that the measures it imposes as a condition on countries that have no other than sign a letter of intent drive large segments of the population to the extreme of tolerance. Greece is perhaps the most recent example, but various Latin American countries can account for the strenuous effort involved in being accredited by this international body.
What we must not forget is that the financing, whether it comes from the World Bank, the IDB or the Fund, is that, and that sooner or later, it must be paid for, like the unfortunate swap Hired at the beginning of the six-year term. The question in the air continues to be what is the source of repayment, given that the government violated the Constitution by contracting debt without identifying it, punctually and specifically, with the ignorant consent of the Chamber of Deputies.
Unmistakable signs that imply amber lights have come on, as is the already undeniable struggle that exists between the SHCP and the large international credit official claimants, Pemex and the CFE.
It is precisely the laws that the Federal Executive does not like that point out that the federal treasury should not be paying, much less endorsing or backing, the indebtedness of what should be, but are not, productive companies of the Mexican State. Talking about healthy public finances, when these entities have financed their disastrous operation by failing to pay suppliers and contractors, is not only not very serious, but also fails to notice that, in just four years, they have broken the national chains of products and services of the oil and electricity industries.
Large liabilities have been left under the table, such as the pensions of these two large entities, as well as the fact that the liabilities derived from acquisitions and services should and should be computed as public debt, a validated omission, against the interests of the Nation, under the Pérez Dayán formula, by the way, recently awarded. Such a ruse is already being analyzed by foreign financial authorities under the accusation of accounting fraud.