Although he highlighted the solution for UR debtors, Raúl Lozano maintained that the intention was never for Banco Hipotecario to “disappear.”
The minister of Housing and Territorial Planning (MVOT), Raul Lozano, expressed his disagreement with the incorporation of the merger of the Mortgage Bank of Uruguay (BHU) to the Republic Bank (BROU) —and its consequent disappearance— in the project that seeks to solve the problem of debtors in Resettable Units (UR).
Despite having been one of the senators who participated in the elaboration of the project in question —together with the nationalist Sergio Botana and Carlos Camy, and the colorado German Coutinho—, Lozano rejected the fact that the idea of the merger or absorption of the BHU was included. Yes ok Town meeting has not yet defined its position on the matter – this part of the initiative must achieve two thirds of the votes to be approved in the Parliament- The current minister maintained in dialogue with Diamante FM that it is not in the party’s plans for the state bank to “disappear.”
In this sense, he said that there is still a parliamentary stage in which “the possibilities of fusion or not fusion” will be seen. In it, the project must achieve a special majority, something already complex as the votes of the broad front, sector from which they rejected the initiative.
Likewise, Lozano said that this measure is “independent” of the debt restructuring project, which is “it is very helpful”. “It will benefit some 2,500 families who will stop paying the quota completely, if they are 40 years old or more than they have paid and then, if they are between 30 and 39 years old, 0% of their interest rate and less than 30 years old, a 2.5% interest rate. I think it is very beneficial for people and if it can be further improved, it would be better”, he considered, noting that he always worked on this solution.
The BHU alerts for massive claims
He BHU DirectoryFor his part, he once again spoke out against the ruling party’s bill, and clarified that, if the initiative advances, a merger with BROU is not necessary.
For the president of the BHU, Casilda Echevarria, the bank “has the possibility, due to its patrimonial responsibility, to bear the impact” of the application of the initiative. Thus, before the Senate Housing Commission, he insisted that he can move forward “without the need to join Banco República”.
While, Gabriel Frugoni, director for the Broad Front, considered before the legislators that a merger with the BROU would take years and would imply a “loss of credibility”. In addition, he alerted for a “contagion effect” that could encourage other debtors not included in the project to try to achieve write-offs through the courts.
Source: Ambito
