Open Town Hall (CA) announced a kind of momentary truce and his permanence in the government coalition to achieve the necessary votes in the project that seeks the restructuring of individual debts. The keys to understand this project.
The government managed to kick the crisis forward and, for the moment, the Multicolor Coalition It is maintained after the decision by majority of CA not to break after the request for the resignation of the president Luis Lacalle Pou to the now ex-minister of Housing and Territorial Planning (MVOT), Irene Moreira. For the sector led by Senator Guido Manini Riosthe request of the head of state “was misguided” and with a “revanchist spirit.”
On the one hand, for not having supported in the first instance the vote of the social security reform as it was originally planned. But the trigger for Lacalle Pou’s “passing of accounts” is the debt restructuring project that, according to Manini Ríos, caused “discomfort in some circles.”
However, this project is one of the main reasons why, for now, the coalition remains. Cabildo Abierto will carry out “close monitoring” of the state of the public security situation throughout the country, and will give “themselves a period” to seek an “urgent” legislative solution to deal with the bill for the restructuring of debts of natural persons. Otherwise they will try to go the way of a plebiscite.
In this regard, Manini Ríos had already indicated to the government a period of one month for the treatment of this project, after having given his vote for the approval of the social security reform; before resorting to the signing board. “We are going to insist that there has to be a solution for tens of thousands of Uruguayans,” the senator had pointed out at the time.
What is the debt restructuring project about?
The debt restructuring project is pending that the Cabildo Abierto has within Parliament, for which its coalition partners have not done much more than “box” it.
In this sense, at the beginning of November of last year, the project that seeks to alleviate the family indebtedness of Uruguayans —an urgent problem for CA that affects close to a million people— had obtained an opinion Senate Constitution and Legislation Committeebut then he failed to advance his treatment at the planetarium, forgotten by the same parties of the Multicolor Coalition.
Back then, the initiative allowed individuals to restructure their debt through a refinancing system similar to the one used by companies when submitting to a concordat. The creation of this judicial process implies that the debtor could appear before Consumer Defense (Ministry of Economy and Finance) and initiate the restructuring of all its debts and, failing that, go to court.
With the new project that CA will present to unlock its treatment, the debt concept fair through reasonable interest rates for debtors, with the aim that they can pay off the debt. “There are debts of 30,000 pesos that go up to 1 million when there are two, three, four years of non-compliance, and when the person wants to pay he can no longer,” explained Manini Ríos, in this regard.
Likewise, there is an entire chapter dedicated to debts with the State since, according to the senator, this is often the biggest usurer. “There are many unfair situations of debtors who paid a lot and continue to owe more than what they paid,” said the CA leader.
At the end of last year, the lobbying party had considered allying with the broad front for the sanction of another project in this sense —and, in general terms, very similar—, to which they considered including another way in the regulation of the interest that financial companies can charge for the creation of the debt restructuring procedure.
Source: Ambito
