They Pay $1.6 Billion for Fobaproa and Debt Grows
9 Articles
9 Articles
Fobaproa contributions will no longer be tax-deductible for banks in 2027, says Edgar Amador
The Secretary of Finance explained that the resources allocated for years to the payment of that debt have mainly covered interest
Alma E. Muñoz and Arturo Sánchez Mexico City. To date we have only paid almost 1.6 billion pesos of interest on the debt of the Bank Savings Protection Fund (now administered by the Institute for the Protection of Bank Savings), created by Ernesto Zedillo in 1995 for the rescue of banks and companies, [...]
Mexico has paid nearly 1.6 trillion pesos (MXN) in interest alone on the Fobaproa (Banking Fund for the Protection of Savings) debt, incurred when the government bailed out banks during the 1994 economic crisis. Even with this amount disbursed, the principal has not decreased, noted Edgar Amador Zamora, Secretary […] The post Mexico has paid 1.6 trillion pesos in interest alone on Fobaproa; banks will not deduct this expense in 2027 appeared fir…
The Ministry of Finance explained that the payments cover interest, while the principal of the bonds is refinanced with new debt.
In 2027, close to 48,000 mdp is envisaged for IPAB obligations, while Treasury noted the cost of Fobaproa's debt The publication "We have paid almost 1.6 billion and the debt has grown": Finance; 48,000 mdp is envisaged for IPAB in 2027 appeared first in the CEO.
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