By RICARDO CASTILLO Debt Restructuring Plan The Mexican Treasury and the National Banking and Stocks Commission (CNBV) launched a national debt relief package to help borrowers and banks alike during the covid-19 pandemic-provoked economic crisis. The plan includes a downsizing of the agreed-upon interest rate and reduces the monthly amount borrowers are currently paying. All news arrangement will have to
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By RICARDO CASTILLO It is that time of the year in Mexico when the Treasury Secretariat sends what is known as “the economic package” for the year to come. On Tuesday, Sept. 8, Treasury Secretary Arturo Herrera visited the Chamber of Deputies to hand deliver “the package” to new Deputies’ President Dulce María Sauri Riancho. Legally known as the “Law
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XINHUA Mexico’s public debt will remain stable over the coming years despite the damage to the economy in 2020 caused by the novel coronavirus (covid-19) pandemic, President Andrés Manuel López Obrado (AMLO) said Wednesday, Sept. 9. AMLO’s administration submitted a budget proposal for 2021 that aims to reduce the so-called Historical Balance of the Public Sector Financial Requirements to 53.7
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By THÉRÈSE MARGOLIS Critics of Mexican President Andrés Manuel López Obrador (AMLO) wasted no time after his 45-minute Informe de Gobierno (State of the Nation Address) on Tuesday, Sept. 1, to attack his annual report as “false,” “misleading” and “delusional.” In the address — the second in the president’s six-year term — AMLO congratulated himself and his leftwing administration for
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By RICARDO CASTILLO This is the summer storm season for Mexico, so talking about yet another up-and-coming tempest – and not in a teapot – is not only normal, but also routine. The one storm I want to deal with today is the current drafting process of the 2021 Economic Package that Mexican Treasury Secretary Arturo Herrera is in the
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By RICARDO CASTILLO Brutal Contradictions in 4T Environment and Natural Resources Secretary (Semarnat) Victor Manuel Toledo Manzur in an apparently private gathering called on the public not to idealize Mexican President Andrés Manuel López Obrador’s (AMLO) Fourth Transformation (4T) ideological program because, he said, there are within it “brutal contradictions” and “it does not exist” when it comes to protecting
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By RICARDO CASTILLO Budget Change Controversy Harsh times demand harsh measures, and this week Mexican President Andrés Manuel López Obrador (AMLO) sent a bill to the Chamber of Deputies proposing to rearrange the government’s budget to meet the inevitable health and financial crisis looming for the nation. AMLO’s adversaries, through the non-governmental organization México Evalúa (Evaluates) has claimed that the
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By RICARDO CASTILLO Mexican Beaches Closed for Easter Mexican marines and municipal police have full control of Acapulco beaches to impede tourists from doing what they do best every Easter weekend: Enjoy their vacations. Guerrero Governor Hector Astudillo held a press conference on Tuesday, April 7, to “acknowledge the efforts being made by the persons participating in actions to keep
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By RICARDO CASTILLO Mexico’s Economy Shielded In one of the multiple events of the four-day-long 31st Reunion of Ambassadors and Consuls 2020 organized by the Foreign Relations Secretariat (SRE) from Jan. 7 to Jan. 10, Treasury Secretary Arturo Herrera took the forum as an opportunity to claim that Mexico – one year after Andrés Manuel López Obrador’s (AMLO)
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By RICARDO CASTILLO USMCA Is a Done Deal Happiness is a good trade deal. And a great Christmas gift for Mexican President Andrés Manuel López Obrador (AMLO) since it affords the country a potentially secure economic future once all of the minor hurdles have been cleared. The passage of the United States-Mexico-Canada Agreement (USMCA, or T-MEC, in Spanish), which was finally
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