If Congress does not approve loans which enable funding of the state budget, the crisis could be severe.
Roberto Villate, head of the Lider back bench group, said that as a block, they do not support the loan approval because from the beginning they did not agree to an underfunded budget and one without any programatic basis. The official said that with each loan "the country takes one more step in the direction of Greece or Cyprus".
Congress’ slow pace of Congress in approving the fiscal plan and another 12 loans could bring down the country’s risk rating, the finance minister has said.
A low risk rating in the country, difficulties in accessing international credit markets and loss of credibility abroad are some of the situations that could arise if there is no progress in passing the tax package.
The Congress approved two loans for $28.5 million which will be added to the $950 million that were approved last Tuesday to finance the national budget.
PRENSALIBRE.com reports, "The decision to approve another loan for $30 million (Q237 million) - in aid for the criminal justice system -, was postponed at the request of the "Eferregistas" lawmakers who asked for more time to analyze it, as they claimed that "not even the Supreme Court knew all the details."
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