The debt legacy of President Laurentio Cortizo

The government of President Laurentino Cortizo has broken and will break all debt records. Since he took office –in July 2019– to date, the debt has increased by $13,875 million, to exceed, for the first time, $40 billion. That is a record that no one can dispute because his rate of indebtedness is another record: an average of $447.6 million per month. Consider that before Cortizo, the one who made the debt grow the most was President Juan Carlos Varela. In his 60 months, the debt increased $8,973 million, to an average of $149.5 million per month, that is, 200% less than the rate of Cortizo, who, halfway through his term, has accumulated almost 80% of all the debt acquired during the efforts of Martín Torrijos, Ricardo Martinelli, and Varela. The sum of these three periods reaches $17,429 million, but at the rate, it is going, before the end of the year, Cortizo would exceed that amount, with which it will break the waste record in the country’s history… and all in the worst crisis economy in recent decades. If he doesn’t loosen his foot, by the time he’s 60 months old, the debt will have risen to more than $25 billion. And that will be another record… and his great legacy. – LA PRENSA, Jan. 27.