Abstract

CABRERA G., Mauricio  and  GONZALEZ, Jorge I.. DISJUNCTIVE IS NOT TO PAY OR EXCISE DEBT, IS TO PAY IT EXTRA CHARGE OR AT JUST PRICE. Rev.econ.inst. [online]. 2000, vol.2, n.3, pp.185-194. ISSN 0124-5996.

The article shows that the disjunctive stated by Hernández et. al. between pay or excise national public debt is not relevant. Discussion should focus on the current price that is paid for national public debt. Treasury is offering TES on the market at an interest rate much greater than DTF. This extra charge, besides is not justified, increases national debt. Current management of national public debt should be restated so that fiscal adjustment and economic recovery can be accomplished.

Keywords : fiscal deficit; public debt; monetary policy; interest rate.

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