Editorial: A solution for “red loans” is necessary now
The settlement for red loans which has been anticipated for months is seemingly turning into a long-term serial. After plans upon…
The settlement for red loans which has been anticipated for months is seemingly turning into a long-term serial. After plans upon plans are drafted and revised, we are old to wait, once again. This critical intervention, which is critical for the reboot of the economy, is constantly delayed, despite the government’s express will to carry it out.
It is a fact that the finalization of the settlement has to go through the quagmire of bureaucracy, many ministries and offices, but that is not sufficient excuse for the delays. After all, the Growth Ministry’s – which is tasked with solving this problem – has the responsibility to expedite the process and tackle the problems and malfunctions in this case.
The expectations generated by the government’s repeated proclamations are in danger of having a boomerang effect, similar to the ENFIA debacle, should a final and efficient solution not be provided soon enough. The troika’s objections and disagreements on the settlement have been known for some time now. Therefore they cannot be used as an alibi, should the settlement be put off indefinitely.
SMEs in particular, which are the backbone of the economy, have been trapped and excluded from all cash flow sources due to their red loans, will face survival issues, should this problem not be resolved soon. The relevant ministers must set aside the constant proclamations and promises, while ensuring that a realistic and reliable solution is provided as soon as possible. There is no more room for tabletop exercises.