📚 noun • entry_id 62445
public credit
Meanings (ES + gloss)
crédito público
The loan of money to a government body in return for a bond or similar promissory note.
The use of credit by a government is simply one of the ways by which income may be obtained, but it is more convenient to deal with the special characteristics of public debts and…
Therefore the actual and substantive decision authority for public credit lies with the Ministry of Finance which decides on the credit-worthiness of every public utility.
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