Velasco defends Metro loans to finance Transantiago

SANTIAGO.- The minister of Finance, Andrés Velasco, referred to the new loan that will be issued by the Metro to Transantiago saying, “resources are not being forked out, this is a loan and anyone who understands business knows how that works”.

The minister clarified that, just as with any other country, “sometimes monetary resources are facilitated and that is nothing out of the ordinary, it is an everyday occurrence”.

Velasco maintained that the spending policy of President Michelle Bachelet´s administration “stands out for being serious, responsible, and careful and the numbers leave no room for doubt. Public debt has been reduced and public income is high”.

The head of Finance also responded to criticism from some industries that blame him for the constant spending of national treasury funds.

Additionally, Velasco explained that the loan is merely a short-term financing plan that will only take place until the loan for US $400 million, which has been requested from the Inter-American Development Bank, is approved.