2023-09-02 07:05:00
Opinion
Definitely, in the inexorable passage of time, one comes to the conclusion that success does not teach, what teaches is failure, I bring up this statement, because upon learning of Javier Pincay’s triumph, several fellow members met at the political analysis, to try to predict the future of who, by decision of the sovereign, was going to occupy Menéndez’s chair.
Most of us wished him success, as defenders of democracy, we are more democrats in failure than in triumph. Unfortunately, there were several doomsayers in this political gathering who, without giving Pincay the benefit of the doubt, questioned his qualities as a ruler because they thought he was just a populist.
I explained to them that the administration that ended last May had written a manual called “Plan 2035”, which contains a projection of the most relevant issues for the benefit of our city, what Pincay should do, in my modest knowledge. In addition to using his experience as a professional and councilor, it was to take advantage of this valuable planning instrument. It just had to be improved, because it wasn’t written in stone.
The one who does not stop has proven us right, since all the works that are going to be executed with resources obtained through credits, none of them have been changed, a correct decision by our mayor. The works do not belong to this or that administration, they belong to each of the citizens who make up the social fabric of the city of Reales Tamarindos.
Therefore, in these lines, I encourage unrestricted respect for democracy, since Pincay was elected, not on any given Sunday, but on a solemnity full of hope for better days, that there is something even above the constitution and that is the will popular.
Gustavo Cedeño Villavicencio.
Security of payment of state bonds
A media outlet brings an interesting comment regarding the security of investments made in State Bonds, whose papers are traded on the Quito and Guayaquil Stock Exchanges in high amounts, since in the year 2021 it would have reached almost US$ . 1,035 million.
The important thing about these financial operations is that their payment is totally guaranteed by the Trust Agreements that in each issue must be signed between the Ministry of Finance, which is the one that issues the bonds, and the Central Bank, which pays the interest coupons and of the invested capital, which forces it to cover these obligations, without the need for the Ministry of Economy and Finance to have to authorize the service of such documents, thereby eliminating the possibility of the State falling behind in its obligations.
Due to the same circumstance, the credits granted by the State Bank to the Sectional Governments, now identified as Decentralized Autonomous Governments, do not fall into arrears because at the time of approval, the Credit Agreement and the Trust Agreement are signed, which obliges the debtor to comply with its obligation in a timely manner by withholding the necessary resources from the Central Bank and to BEDE to recover the loan granted, automatically, for which the Bank does not have a past-due portfolio.
The current government, which is now happily leaving, neglected, among various issues, the promotion of these papers, because in many cases it may be more beneficial to borrow in the Country and not abroad, because even if the interest rates are the same, the difference lies in the destination of the interest paid, since in one case they go abroad and in the other they would benefit nationals.
Ivan Escobar Cisneros
#Letters #Quito #September