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President López Obrador assured that the payment of the external debt will be reduced by half by 2025.
He accused former presidents for having supported Fobaproa and indebting the country, specifically pointing to the PAN and the PRI.
The payments of the external debt of the Federal Government programmed for 2025 will become equivalent to one thousand 280 million dollars.
Today, during the press conference “La Mañanera”, the President of the Mexican Republic, Andrés Manuel López Obrador (AMLO) He assured that the payment of the external debt will be reduced by half as of 2025, with the aim that the successor of the next president does not have to deal with the same “pressures” as the Fourth Transformation (4T).
The head of the Executive also attacked the transition that deteriorated in Fobaproa and the rescue of corporations that did not need it, blaming former presidents such as Carlos Salinas de Gortari, Ernesto Zedillo, Vicente Fox Quesada and Felipe Calderón Hinojosa. “Salinas and Zedillo blame each other. We have already talked here that Zedillo left the economy on pins, and Salinas answers that yes, but that he took them away, ”he said in a conference at the National Palace.
With this, the president pointed out that a crisis has occurred since then from which the country has not been able to emerge.
“They opted to rescue the banks and large companies, that was the decision that Zedillo made. He converted private debts into public debt. The debts of the banks that were supposedly bankrupt with overdue portfolios because people could not pay and companies that could not pay either. Then, all that debt became part of the public debt. Of course with the justification that the public debt was going to rescue those below”.
Foreign debt payment will be halved in 2025
As a result of what was said, the president assured that during his government the payment of the public debt has been advanced, with which little by little the country is recovering. However, the real news was that it was announced that the external debt would reduce its payment as of 2025, in the administration of the next President.
“I can tell you in advance that we have already done a debt restructuring so that the government that arrives pays half of the interest on the debt of what we paid when we entered the government. We have already restructured debt so that in 2025 they do not have pressure to pay debt”.
Also, the President of the Mexican Republic He assured that in terms of the financial plan for his six-year term, everything is already covered, assuring that his Government would end up in a good position. He assured that little by little the “Porfirio” vision with which he denies “if it rains upstairs, it drips downstairs” has been changed.
Thus, on the eve of a new candidacy, the President assures that his successor may have the free way to have more resources than he has had.
In addition to this, let us remember that the Ministry of Finance and Public Credit (SHCP) announced that an early repurchase of a bond would be carried out by 2025, with an outstanding amount of 1.2 billion euros. In this way, the payments of the external debt of the federal government scheduled for 2025 will become equivalent to one thousand 280 million dollars. Currently the Government of the 4T pays 4 thousand 240 million dollars.
Finally, he assured that an aggregate amount of 14 thousand 160 million dollars has been refinanced in several operations carried out since 2019 with anticipated repurchases of external bonds.
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