The party already has a total of 320,000 members but will seek to reach 350,000 to ensure its approval.
The party led by Guido Manini Rios will continue to seek even more signatures to present the plebiscite for a fair debt to the Electoral Court, Even with a total of 320,000 signatures, Open Town Hall will seek even more support to ensure its approval.
In this way, the party that seeks to carry out the plebiscite for “a fair debt and against usury” will present the signatures in the month of October Electoral Court, with the aim of having the proposal voted on in the departmental elections in May of next year.
The intentions of Open Town Hall The party needs to reach a total of 350,000 to ensure its approval. So far, the party has a total of 320,000 signatures, although the party insists on getting even more because the Electoral Court could reject some and it is essential to reach 10% of the electoral roll for the plebiscite to be submitted to a popular vote, that is, at least 270,000 approved signatures.
What is the aim of the Cabildo Abierto plebiscite?
Open Town Hall launched his plebiscite last year after failing in the Parliament a bill along the same lines. The party’s argument, criticised by The National Partysectors of the Broad Front and the banking sector, is that there are “hundreds of thousands of Uruguayans who today are considered irrecoverable debtors” as a result of the interest charged by financial institutions.
Basically, the initiative aims to modify article 52 of the Constitution to establish the “prohibition of usury” and set “the maximum interest for all purposes in a Annual Effective Rate 30% on amounts converted to Indexed Units (IU)“. It also sets out penalties for “violators” of the measures and adds that “no one may be deprived of their freedom for debt.”
In Uruguay there are more than 700,000 people classified as debtors with difficulty in their ability to pay, according to the Credit Risk Center (CRC) of the BCU, which, as of May 2023, had 1,905,155 people in the country registered as debtors.
Source: Ambito
