The Ministry of Finance and Public Credit (SHCP) put 94 municipalities, including Puerto Vallarta, under ‘Yellow Alert’ due to debt levels carried by the cities.
Get our news delivered to your inbox every morning. Click here to signup
The above means that the debt reported in the second quarter of the year of those municipalities is under observation.
Along with Puerto Vallarta, Cuautla and Cuernavaca in Morelos; Monterrey, Nuevo León; Cuautitlán, State of Mexico, the city of Oaxaca; Cozumel, Quintana Roo and Tampico in Tamaulipas, also joins the list.
The green light was given to 368 municipalities, meaning an acceptable amount of debt is carried by the cities.
The rest of the municipalities did not provide information for the SHCP to measure its level of debt.
By making the Alert System known, the agency explained that the figures used for the calculation took into account the information and documentation of the municipalities provided through the states.
The accounting information published by the municipalities themselves was also taken into account in accordance with the formats referred to in the Financial Discipline Act, as well as, the information available in the Single Public Registry by the Secretariat.
Therefore the validity, accuracy and accuracy of it, is the responsibility of each of the municipalities.