At least 25 public universities across the country are on the verge of bankruptcy: UNAMBy Elliot Bullman
Disinterest, government abandonment and corruption have generated an "unacceptable" crisis: UNAM
The lack of interest of the last three federal governments, inept management and drastic budget cuts have brought 25 Mexican universities to the verge of bankruptcy, warns the UNAM.
The SEP ensures that it will not intervene while 200 thousand young people could be left without education.
Salvador Jara, undersecretary of Higher Education of the SEP stated that; “the year is running out and we are not able to offer any extraordinary support. We must remember that they are autonomous institutions."
At least three of the seven public universities declared bankrupt participated in multimillion dollar deviations in complicity with federal government agencies, through the triangulation of contracts from government agencies.
According to the research compiled by LaEstafaMaestra, the institutions involved in these deviations are the Autonomous University of the State of Mexico, the Autonomous University of the State of Morelos and the Universidad Juárez Autónoma de Tabasco.
As the impact of the news hits home, the government faces an explosive cocktail right before the presidential elections, with the possibility that 200 thousand young people will have to suspend their studies which may provoke an uprising.
So far, the 7 universities declared bankrupt are:
-Universidad Autónoma del Estado de Morelos.
-Autonomous Mexico State University.
-Universidad Michoacana de San Nicolás de Hidalgo.
-Autonomous University of Nayarit.
-Universidad Benito Juárez de Oaxaca.
-Universidad Juárez Autónoma de Tabasco.
-Autonomous University of Zacatecas.
Last October, the rectors of these seven universities in technical bankruptcy requested help from the federal government and the support of the National Association of Universities and Institutions of Higher Education (Anuies) to deal with financial problems. A crisis caused, among other factors, by the growth of their payrolls without the respective budgetary authorizations, as well as the progressive decrease in spending on higher education in the country.
The credit rating agency Moody's, for its part, maintains that two out of every three public universities in Mexico have actuarial deficits in their pension mechanisms, which will become unsustainable in 2020.
For his part, the rector of the UNAM, Enrique Graue Wiechers, described as unacceptable that there are public universities at risk of subsistence by 2018, because they have budget imbalances and because the resources allocated to higher education are insufficient.
He emphasized;, "those responsible must render an account of their actions and respond for their actions.”
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