The exponential growth that the state debt has experienced in the country in recent years is an economic red flag. The so-called subnational debt could be a silent time bomb that, upon exploding, would take the entire country into a crisis that would impact the population's welfare. The issue must be addressed soon and, above all, without attempts to politicize it.Maybe the parties shouldn't politicize it, but I don't think there's anything wrong with me pointing out that all those states were governed by the PRI in the years mentioned. And Peña Nieto's profligacy with public money is well documented. The younger generation of the PRI may be a new breed in some sense --I don't think many of the wanton anti-democratic practices will return-- but there is not much reason to think that the economic instincts of the group likely to be running the country next year are much better than those of the PRI a generation ago. I don't imagine that argument is going to have much sway with the younger portion of the electorate that doesn't remember 1994, to say nothing of 1982, but it's worth mentioning and being worried about.
The numbers are overwhelming. According to document from the Finance Secretariat, the state debt grew by 172 percent in real terms from 2000 to 2010. Previous information from the Mexican Institute for Competitiveness (IMCO) warned that just from 2005 to 2005, the indebtedness in Chihuahua grew by 709 percent; in Tamaulipas 427 percent; Nayarit 407 percent and 248 percent in Coahuila.
Also, El Universal reports today that the cash transfers from the federal government to the states increased by close to $3 billion in the first half of this year compared with the first half of 2010.