Sunday, June 1, 2025

10 universities on verge of financial collapse need 4 billion pesos

Ten of Mexico’s public universities are on the brink of collapse, staff and government officials have warned, a situation that can only be resolved with emergency funding of 4 billion pesos (US $213.7 million).

The institution at most imminent risk is the Autonomous University of Morelos, which could collapse financially as soon as next week. Rectors at San Nicolás Hidalgo, Michoacán, and Tabasco have warned that their institutions could follow suit “in a matter of days.”

By November, the schools will be falling like dominoes: the universities of Zacatecas, Nayarit and Sinaloa will find themselves in a similar situation, said Antonio Guzmán Fernández, rector of the Zacatecas Autonomous University (UAZ), and Zacatecas congressman Alfredo Femat Bañuelos.

UAZ needs 200 million pesos ($10.7 million) to pay salaries and year-end bonuses for the remainder of 2018, and  a similar amount to pay taxes and social security.

The 4 billion pesos required to stave off the financial collapse can only be allocated by the federal Finance Secretariat whose chief, José Antonio González Anaya, has been summoned by a congressional committee to discuss  the situation on Wednesday.

Source: El Universal (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Claudia Sheinbaum with a serious expression and a Mexican flag

Claudia versus the cartels: A perspective from our CEO

28
Mexico News Daily CEO Travis Bembenek assesses the Sheinbaum administration's progress — or lack thereof — against Mexico's powerful cartels.
News quiz

The MND News Quiz of the week: May 31st

0
Dodgy dams, foreign investment and police supercars: Test your knowledge of the last 7 days of news!
Heavy machinery sits in a river bed with a partly demolished dam, next to a large hacienda-style house

Water commission demolishes illegal dams built by Chihuahua ex-governor

0
The unpermitted dams blocked a Rio Grande tributary, redirecting the water to irrigate Duarte's cattle ranch and walnut orchard.