Governor Rocío Nahle García announced the complete elimination of the stock market debt held by the 199 municipalities of Veracruz, after completing the liquidation of the financial scheme contracted in 2008. With this, the municipalities’ federal revenue-sharing funds were released, strengthening their ability to invest in public works.
Accompanied by the Secretary of Finance and Planning (Sefiplan), Miguel Santiago Reyes Hernández, and the Secretary of Government, Ricardo Ahued Bardahuil, the governor explained that the recovery of 1.085 billion pesos found in trust fund accounts made it possible to fully settle the debt, meaning that no municipality will have to make additional payments.
“We recovered the money. Today all municipalities are settled; they do not have to pay a single peso. The securitization does not end in 2036 or 2030: it ends today,” she stated.
She reiterated that this result demonstrates that, when authorities work together regardless of political affiliation, it is possible to generate greater benefits for the population.
“We have everything we need to grow and return Veracruz to its greatness. We achieved this together,” she concluded.
During the technical explanation, the head of Sefiplan detailed that the securitization was originally contracted for 1.208 billion pesos. However, due to its financial structure —including debt indexed to UDIS, interest surcharges above market levels, and a system that withheld municipal revenue-sharing funds— municipalities had already paid 2.573 billion pesos and, if the agreement had continued, would have had to pay an additional 2.266 billion pesos until 2036.
As part of the review of the trust fund, the Veracruz government identified three accounts —for revenue-sharing funds, support, and reserve funds— that contained resources totaling 1.085 billion pesos that had not been transparently reported to municipalities or the state government.
After recovering those resources, the Government of Veracruz supplemented the settlement with an additional contribution of nearly 500 million pesos to permanently eliminate the financial obligation. As a result, the contribution scheme originally planned until 2030 was canceled, since the debt was fully paid on July 14, 2026.
Santiago Reyes Hernández highlighted that completing this process will help improve the financial position and credit ratings of the municipalities by removing a liability that had compromised their future income.
The liquidation was the result of a process carried out between June 2025 and July 2026, which included negotiations with financial institutions, support from the Ministry of Finance and Public Credit (Hacienda), and collaboration from municipal governments to complete the legal and administrative closure of the trust fund.
The announcement, held in the central courtyard of the Government Palace, was attended by the mayors of the 199 municipalities involved, as well as Antonio Cabrera Solares, coordinator of Public Debt for States and Municipalities at Hacienda, along with Sefiplan officials who participated in the financial recovery strategy.
Source: masnoticias
