The implementation of the government’s charging plan for the Crédito con Aval del Estado (CAE) has led to significant increases in daily payments. Following the controversial statements by Minister of Finance, Jorge Quiroz, payment amounts jumped from $30 million to nearly $200 million. This surge is attributed to the first visible outcomes of a plan designed to streamline the collection of outstanding debts.
CAI Revenue Soars Post-Government Announcement
The increased revenue marks a notable shift in fiscal collection, as the Ministry of Finance reported a sixfold rise in payment levels. This spike in remittances occurred immediately after the announcement of the collection plan, showcasing a prompt response from debtors.
Minister Quiroz’s Controversial Remarks
- Minister Quiroz pointed out the identification of individuals capable of repaying debts but not currently fulfilling their obligations.
- He emphasized the distinction between “social spending” and “social fraud,” raising eyebrows in political circles.
During a seminar hosted by Sofofa in collaboration with the Universidad del Desarrollo, Quiroz defended the current financing system. He argued against the need for a new mechanism like the FES, stating, “The CAE must be repaid, and we dispel the myth that FES approval is necessary.”
Political Reactions and Criticism
Quiroz’s statements prompted immediate reactions from various political figures. Andrés Couble, Secretary General of the Frente Amplio, challenged the government to confront the structural issues surrounding student debt. He criticized the administration for failing to propose substantive solutions, calling their approach mere “communication fireworks.”
- Boris Barrera, a member of the Communist Party and finance commission deputy, criticized the tone of Quiroz’s remarks about “social fraud.”
- Barrera stressed that not all CAE debtors are in a position to repay their loans, deeming the minister’s comments inappropriate.
Amid these controversies, the government continues to roll out its collection plan through the Tesorería General de la República. The focus remains on higher-income debtors, with expectations of intensified revenue recovery efforts in the coming weeks.
