Medellín Mayor Reveals Government’s Plot to Default EPM and Take Over

The mayor of Medellín, Daniel Quintero, stated that they were going to be called for default due to the environmental issue and assured that, from the government of Iván Duque, through Juan Emilio Posada, they were seeking to affect EPM, because the current president of ISA He is a relative of Coninsa Ramón H, the same Hidroituango contractors.

This Monday, the district president explained how he maneuvered to pay the debt that EPM had with the Inter-American Development Bank.

He assured that he told the members of the EPM Board of Directors: “let’s collect the money, let’s collect the 450 million dollars so that, if they call us to default, we have the means to pay it.”

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It should be noted that Default occurs when there is total or partial non-payment of a debt at maturity and occurs when a debtor breaches a formal debt contract.

“Every international loan that one makes, we cannot make the loans in Colombia because they suddenly realize, we have to make the international loans, but those loans must be authorized by the National Government. So we had a tremendous mess. How to get 450 million of dollars without the National Government or the local banks realizing it?” he said.

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“So, We began to obtain 100 and 50 million dollars and we told the National Government that it was for company operation issues.but we were really saving them,” said the president.

Likewise, he expressed that when the emergency with the contractors arose around October or November, they were summoned at the national level with all the ministers and President Iván Duque, where the national leader was going to read EPM’s intervention speech and which had caused a default.

The district president assured that, “After the meeting, they called the Inter-American Development Bank to pay the 450 million dollars.”

“They call us back and tell us, look, EPM, we are going to give you 15 days to pay two billion pesos and the EPM manager answers, And you don’t receive the money on Monday? How come? Yes, we have the money ready to pay them. The previous week, “The last 50 million dollars had been approved by the National Government without realizing it,” stated Daniel Quintero

Furthermore, the mayor of Medellín assured that “they had the perfect plan to take over EPM and that no one had realized that strategy, only within EPM and classified it as the most violent move of the previous government to take over EPM.”