Eder secured more money for his term in office by refinancing Cali's debt

La Silla Vacía

Eder secured more money for his term in office by refinancing Cali's debt

Alejandro Eder, mayor of Cali, announced that he refinanced the city's debt. He obtained the endorsement of the Ministry of Finance to modify bank payments and extend them for eight more years, reducing the amount of money that this administration will have to pay. Why does it matter? Cali's debt amounts to 1.2 trillion pesos and most of it was due to be paid over the next four years. This year, for example, $400 billion had to be paid. Now the …