Marco Antonio Moreno Mexía, Secretary of Finance of Baja California, took part in the First Network of Public Financial Administrators Forum, organized by the Secretariat of Finance and Public Credit (SHCP). Here, he participated in panels about sustainable financial policies and debt administration.

In his panel about debt administration, the state official explained that keeping a proper control of interest rates is essential to prevent greater financing payments and avoid increases to the public debt. These actions allow the variable reference rate to become a fixed rate for a while which allows the payment to be controlled.

Meanwhile, in his panel about sustainable financial policies, Moreno Mexía explained that the government of Baja California has worked to issue subnational sustainable bonds to finance strategic projects that contribute to resolving issues regarding replacement of hydraulic infrastructure and help to promote productive public investment projects with a gender perspective.

“The state requires regulations tools, financial tools, and public policies to develop a general strategy for climate change and gender equality, and it needs to be compatible with its nature as a guarantor of constitutional rights, which is why a framework of sustainable bonds based on sustainable development objectives was created.”

Moreno Mexía thanked the Secretariat of Finance and Public Credit (SHCP), specifically subsecretary Gabriel Yorio, for their support in creating frameworks that result in a more efficient management of the public finances of Baja California.

The event was organized by SHCP, the Institute for the Technical Development of Public Tax Offices (INDETEC), and the 32 federal entities of Mexico. This event took place in Mexico City as part of the creation of a Network of Public Financial Administrators (AFP).

AFP will have as a goal to promote the exchange of experiences between those in charge of public tax offices, with cooperation from national and international experts on these issues. In addition, they will document experiences of public administrators to promote innovation and process standardization.

Moreno Mexía explained that in the first edition of the Network of Public Financial Administrators Forum the following topics were analyzed: financial scheduling and management, accounting management and consolidation of public accounts, public debt, sustainable financial policies, payment processes and systems, systems integrated with information about financial administration, among others.

He was accompanied by public financial prosecutor, Olga Angélica Alcalá Pescador, and the Subsecretary of Planning, Budgeting, and Public Investment, José Andrés Pulido Saavedra, who all shared experiences with other officials from other states of Mexico.

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