Veracruz outgoing PRI Governor Fidel Herrera leaves massive debt

Just a few days after outgoing Governor Fidel Herrera of Veracruz claimed that he left the state's finances in perfect order and with a surplus of 6.5 billion pesos, his finance secretary Salvador Sánchez Estrada revealed the state's budget deficit is 9.3 billion pesos.

Opposition lawmakers, but also members of the ruling PRI, questioned even these figures and demanded in vain more details on the state of Veracruz' finances. Óscar Lara Hernández, a PAN local deputy, claimed the real debt may even be far higher: Close to 40 billion pesos, or more than 3.2 billion US dollars - a historic high. The line of creditors - from private corporations and banks to social security institutes such as IMSS and ISSTE - is long.

All this - and yet nothing stopped stop Herrera from declaring his interest in a 2012 presidential candidacy for the PRI.