Finance Ministry releases Fiem funds to Metropolitan municipality

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Thursday, March 27, 2003 By: Patrick J. O'Donoghue

 The Finance Ministry has agreed to release 22 billion bolivares from the Macro-Economic Stabilization Fund (Fiem) to the Metropolitan Mayor's Office. 

At a meeting with Metropolitan Municipal authorities, public sector trade union, firefighters, health worker and Metropolitan Police (PM) representatives, a Ministry negotiator also promised to release (as of April 2003) resources corresponding as due to the municipality from the yearly Constitutional Situation Fund, which will go towards normalizing fortnightly salaries and other commitments to workers. 

The resources released will pay help pay two of three backlog salaries owed municipal workers. Municipal pensioners, who have not been paid since December, were unlucky and will have to wait until the Ministry issues a payment order.  Part of the 22 billion must be set aside to build up depleted hospital supplies and stock until the situation returns to normal.