AMLO rejects CCE proposal to acquire public debt

President Andrés Manuel López Obrador rejected the proposal of the Business Coordinating Council (Consejo Coordinador Empresarial: CCE) to raise public debt in a range of between 0.5 and 5 percent of Gross Domestic Product (GDP) to face the crisis caused by the COVID-19 pandemic .

The business council stated that this indebtedness would be responsible and called for the federal president to be sensible, and take actions to privilege the economic recovery.

“With all due respect, we are not going to continue with “more of the same”, there are not going to be ransoms for the elite,” López Obrador said in a press conference from the National Palace.

“The State must protect everyone and avoid granting privileges to anyone, the general interest must be prioritized,” he said, indicating that all Mexicans, regardless of their social status, have the right to demonstrate and make requests to the government.

However, López Obrador indicated that he will give preference to the poorest and will not compromise their future with debt.

He affirmed that if the Mexican businessmen are in crisis and face bankruptcy, it is they who must bear the costs and not the people.

“If you are going to see a bankruptcy of a company, let the entrepreneur, the partners or shareholders assume responsibility,” AMLO concluded.

The Yucatan Times
Newsroom


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