Durango. The town hall will receive a loan of 80 million pesos for Christmas bonuses

The Durango City Hall will receive a loan of 80 million pesos to cover end-of-year commitments, to pay workers.

The municipality has a bank rating of a +or with the approval of the acquisition of these short-term credits.

The financial situation faced by the City of Durango begins to improve after discount program initiated by the administrationwhich managed to guarantee the payment of the pay slip and which does not affect the one corresponding to next October 31st.

Ignacio Orrante, Finance Director of the City Council of the Capital, said that the strategy works, the proof of this is the payment of the more than 5 thousand workers in the municipalityapart from this allowed to guarantee payslips until December.

However, the payment of the year-end benefits correspond to an amount exceeding 120 million pesos.

For this reason and given the good credit status maintained by the administration, it is possible to apply for loans, which is why the Mayor Antonio Ochoa determined to make use of this power to request an amount of 80 million pesos while the rest will be completed with the administration’s own resources.

I assure you it is a short-term debt and that in less than 11 months it would be liquidated.

GERR