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María Rivas and the mayor of Miño, Manuel Vázquez, meet to evaluate the new extension of debt payment until 2060 approved by the central government

07/07/2025
María Rivas and the mayor of Miño, Manuel Vázquez, meet to evaluate the new extension of debt payment until 2060 approved by the central government

The Government of Spain accepts the request of Miño to avail itself of the agreement of the Delegate Commission for Economic Affairs, which grants 10 more years, until 2060, for the payment of the debt of this city council. Assistant Delegate Maria Rivas highlights the central government’s continued support for municipalism and the improvement of the neighborhood’s quality of life. “We’re talking about an action that not only makes it easier to fulfill financial duties, but also frees up resources to invest in the one that really matters: public services and neighborhood welfare,” he said. Miño already had a resolution from the Ministry of Finance that extended the term of payment of municipal debt until 2050, reducing annuities by half and releasing resources for investments and public services in the city.

The Deputy Delegate of the Government in A Coruña, María Rivas, held a meeting today with the Mayor of Miño, Manuel Vázquez Faraldo, to analyze the recent resolution of the Delegated Commission of the Government for Economic Affairs in the framework of review of the financial conditions of the pending operations with the Fund of Financing to Local Entities, by which the request of the City Council to improve these conditions is accepted.

This agreement will allow the City of Miño to move until December 30, 2025 the financial maturities corresponding to the months of June to October of this year, both in operations formalized by means of loans and in cancellations for withholdings, without this implying financial surcharges or delays. This measure is in addition to the one already agreed by the Ministry of Finance and Public Function in November 2023, for the City of Miño to extend the repayment period of its debt of 19 million euros until 2050, reducing the annual quotas to 50%. With the new resolution, the City of Miño will have 10 more years, until 2060, to pay its debt.

The deputy delegate of the Government, María Rivas, stressed that “with measures like this, the Government of Spain demonstrates once again its commitment to the municipalism and to the financial stability of the municipalities”. In the case of Miño, Rivas continued, “we talk about an action that not only facilitates the fulfillment of financial duties, but also frees up resources to invest in what really matters: public services and the well-being of the neighborhood.”

During the meeting, Vázquez Faraldo highlighted the importance of this resolution in ensuring the economic stability of the municipality and in managing financial commitments with greater flexibility. In this sense, the councilor valued “the close cooperation of the central government, which always showed to allow Miño to have a greater margin of financial manoeuvre, thus guaranteeing the amortization of the debt without damaging the provision of services to the citizens.”

"This government is on the side of neighbors and local governments, with a real commitment that materializes in both investments and financial measures that reinforce municipal sustainability," the deputy delegate concluded.