### Government of Baja California Sur Secures New Credit Worth 550 Million Pesos
The government of Baja California Sur announced the acquisition of a new short-term credit line amounting to 550 million pesos. This development was confirmed through the Financial Obligations Report in the Public Registry by the Secretariat of Finance and Public Credit (SHCP). The loan is expected to be repaid within one year, as revealed by the state’s financial records.
In October, Governor Víctor Castro Cosío indicated the need for bank loans to meet year-end financial commitments. Bertha Montaño Cota, the Finance and Administration Secretary of Baja California Sur, explained that over 2.5 billion pesos are required in December to cover bonuses and salaries for almost 5,500 union and trusted staff across the state’s five municipalities.
Governor Castro Cosío expressed confidence in receiving federal assistance to fulfill educational commitments, noting that earlier payments to educators and staff required substantial funds. The aim is to prevent financial difficulties by ensuring that December obligations are met. This new short-term credit will also help clear debts with state suppliers.
Despite accumulating several loans which are to be paid within a year, the opposition voices concerns about the impact on the state’s finances. The SHCP’s recent update underscores that this is not the first credit request made this year—additional loans were secured, amounting to a significant debt ceiling.
### Financial Strain Hits Southern Baja California Municipalities
Several municipalities across Baja California Sur, mirroring the state strategy, are also contemplating loans to manage year-end financial obligations. This includes covering significant payrolls and other operational costs amid challenging financial circumstances.
In the municipality of Comondú, Mayor Roberto Pantoja is considering a credit of 35 million pesos to address fiscal shortfalls, primarily due to an oversized workforce. Similarly, in Los Cabos, Mayor Christian Agúndez Gómez prepares to meet over 300 million pesos in obligations for year-end bonuses.
Tightening financial belts, many municipalities are looking into measures like encouraging early payment of property taxes or seeking bank loans to avoid budget shortfalls. In La Paz, Mayor Milena Quiroga Romero is contemplating a 100 million pesos loan as a last resort while exploring other revenue-generating activities, emphasizing the importance of tax collection to municipal operations.
These financial maneuvers across Baja California Sur underline deeper fiscal challenges within the region, spurring local governments to scrutinize financial strategies carefully. With potential banking interests looming, municipal administrations remain vigilant in balancing financial obligations without heavily impacting their long-term fiscal health.