Despite track record of defaulting, govt continues to give National Authority for Tunnels bulk of off-budget borrowing

The government is once again directing the majority of its off-budget borrowing toward the National Authority for Tunnels (NAT) in the upcoming fiscal year, despite the authority’s track record of defaulting on its loans. Over the past years, the NAT, an economic entity under the Transport Ministry, has relied heavily on borrowing from international, regional and domestic lenders — including substantial foreign-currency loans — to finance multibillion-dollar infrastructure transport projects [&#...