Mexico passes law to lift lid on murky state finances

Reuters, 11/6/2012

When Samuel Chacon took over as mayor of the southern Mexican border town of Tapachula last month, he found the equivalent of about 40 cents in the council’s bank account and debts of more than $38 million.

In a move aimed at preventing such surprises, the Mexican Congress on Tuesday approved a new law that will shine a spotlight on the murky world of state and municipal finances, closing loopholes allowing potential misuse of public funds and forcing governments to track spending, publish budgets online and reveal their debts.

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One Response to Mexico passes law to lift lid on murky state finances

  1. I think that it is a great move to pass a law against murky financing. After all there should be some definite measures to prevent the misuse of public funds. The mayor has taken the correct step, I just hope that this step works.

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