http://elpais.com/elpais/2013/04/22/inenglish/1366650935_697435.html
When Humberto Moreira took office as governor of Coahuila in December 2005, the northern Mexican state had a debt of 300 million pesos ($24.4 million). Today, the residents of Coahuila owe the banks some 36.5 billion pesos ($3 billion).
As the state tries to pull itself out of its debt, Moreira – whose Institutional Revolutionary Party (PRI) administration used false documents to continue to apply for loans – spends his days in Spain where he is studying for a master’s degree.
Coahuila is a paradigmatic case, but it is far from being the only one in Mexico. In Jalisco, Tabasco, Chiapas and Michoacán states – or in other words, in any corner of the country, regardless of the party running the government – unchecked growth, secrecy on the part of officials and corruption allegations surrounding debts have become the main threats for the future of the country’s 32 states.
According to Mexico’s Finance and Public Credit Department, state debts have surged by 148 percent over the last six years, reaching more than 400 billion pesos ($32.5 billion) this year.
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