Monday, November 25, 2024

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.
Economy Minister Marcelo Ebrard

Ebrard proposes North American ‘plan B’ to counter Chinese imports

0
Speaking at a BBVA bank meeting in Cancún on Friday, Ebrard noted there is concern that North America is "losing competitiveness" relative to China.
CJNG drug lord Cristian "El Guacho" Gutiérrez Ochoa poses for a photo holding a rooster

CJNG leader ‘El Guacho’ arrested in California after faking his own death

2
As prosecutors closed in on the cartel, one leader faked his death and fled to live in the U.S. under a new identity.
A group of migrants gather in the courtyard of a compound in Oaxaca, shortly after their rescue by government officials

174 migrants, including 41 minors, rescued in Oaxaca

0
Officials reported that some of those rescued were being held against their will.