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The local government of the department of Antioquia is the most indebted in Colombia, according to a report by the national accounting office, Colombian media reported.
In the first half of 2010, the debt of Antioquia’s local government amounted to $325 million, an increase of 72.6% in comparison with 2007.
Antioquia is followed in the debt ranking by the department of Cundinamarca, which surrounds the capital Bogota and owes $289 million, and the department of Valle del Cauca which owes $82 million, a decrease of 51%.
Also highly indebted are Meta in the Eastern Plains to the tune of $75 million, and Cordoba which has a debt amounting to $55 million.
In total, the local governments of Colombian departments owe $1.44 billion.
