Highway financing with social security funds awaiting decision

The Government’s multi million dollar plan to take over the North and South Corridors, got a surprise  set back on Tuesday (Mar 31).

To finance the deal with the Mexican builders of the highways it had announced using a large sum from the Social Security Fund.
But when the Board of Directors met with representatives of the Ministry of Economy and Finance to discuss what had seemed like a financial fait accompli, it asked for details of the risks facing the agency. Its chief, Guillermo Sáez Llorens, said the government had proposed to the board that it have a share in the highways, which generate revenue through the collection of tolls.

The board is not expected to make a decision on the proposal until its next meeting in July.