The Regional Government of Cusco and some municipalities obtained loans via sovereign bonds, credits with the Banco de la Nación and from organizations such as the World Bank to finance investment projects and the acquisition of machinery.
The budget allocated for the payment of the service of the public debt During 2021 it amounts to S / 87,000,000, of which S / 45,000,000 corresponds to local governments and S / 42,000,000 to the Regional Government of Cusco.
The economist of the Bartolomé de Las Casas Center (CBC), Pablo Villa Incanttito, explained that the total cancellation of the debits will only be made in 2036. However, he clarified that this period can be extended “according to the new contracts that both the regional government like local governments ”. Meanwhile they must periodically amortize in installments.
The credits
In 2012, the regional government agreed to a loan of S / 348,313,856 to promote the project to improve Evitamiento Avenue, which was concessioned to the corrupt company Odebrecht in exchange for allegedly paying bribes. The case is investigated by the Lava Jato Special Team.
The loan was requested because the money from the canon, on canon and royalties was insufficient to finance the road work. “The amount requested reached S / 348,000,000, of which S / 270,730,000 have been executed. resources they must be paid with the amortization of capital, interest and other expenses ”, explains Villa.
In addition, this institution acquired a debt of US $ 120,000,000 from the World Bank to finance the work to improve the Express way, which seeks to solve the Imperial City’s transportation problem.
The payments
There are ten municipalities with debts. Last year, the payment of the debt by some local governments it amounted to S / 69,000,000, of which S / 203,000 correspond to interest payments. While the regional government paid S / 31,000,000 for the debt: S / 6,440,000 for interest and S / 157,000 for commission and other expenses.
One of the main indebted communes is Espinar, whose payment this year will be S / 25,180,000. Echarati, one of the districts of the Convention that has the most resources per gas canon, also has liabilities. For this debt, this year he will have to pay the sum of S / 13,280,000.
Then there are the district municipalities of San Sebastián, Santiago (Cusco), Condoroma (Espinar), Chinchero (Urubamba), Yanaoca (Canas) Ancahuasi (Anta) and the Provincial Municipality of Chumbivilcas.
Payment of debts reduces the budget for works
The economist Pablo Villa highlighted that the public debt contracted by previous and current authorities results in the reduction of the canon resources and mining and hydrocarbon royalties that these entities receive. “The debts They will cause a problem in view of the fact that the payment is mostly made with funds from the mining rent, ”he said.
Then, the municipalities, says the CBC specialist, will have difficulties to do public work because they must first meet those obligations.
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