Portal de Murcia
www.portaldemurcia.com
The possibility of using the financial market to meet debt payment plan providers to the City of Murcia will save more than 4.5 million in 8 years.
Access to these operations to seek better conditions is so far not allowed for local authorities, until the government amended the rules of Spain, published in the Official Gazette on 5th option.
Visiting a financial market in search of better conditions to pay debt payment plan providers means, in fact, a reduction of approximately 4.5 million euros in interest.
This saving is obtained by replacing the current operations signed by the City under the terms of an applied ICO-interest and a 5.5% interest approximate 8.7 million by 2012 - by other financial-market interest near 2.5% -.
The savings are obtained by accessing new possibilities and most advantageous deals available in the financial market, which would represent a breakthrough for the accounts of the local sector.
Thus the city of Murcia, like the other local entities, as happened with the autonomous communities can "replace" the current lending by others in better financial terms available in other markets.
Source: Ayuntamiento de Murcia
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