Bloomberg News

Spain to Block Funds to Town Halls on Supplier Debt, Cinco Says

July 06, 2012

Spain´s Budget Ministry will withhold funds to 2,100 town halls that have unpaid bills with suppliers and that haven´t signed up to a repayment plan put in place by the government earlier this year, Cinco Dias reported.

The funds will be withheld for at least five years and that period could be extended until town halls settle their debts and pay all interest due, Cinco Dias said, citing Spain´s official government bulletin.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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