Nearshoring picked up steam when the covid-19 pandemic exposed the considerable risks inherent in the supply chains for numerous critically important products and intermediate goods for which there was often a single supplier
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Global commentators have suggested that the political wildcard for 2024 will be the United States
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Despite the uncertainty associated with the upcoming elections, Mexico’s economic outlook for 2024 looks relatively stable, given a combination of U.S. demand, government spending and remittances
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concerns have emerged over the possibility of an expanding crisis as Iran confirmed its involvement in the Hamas attacks and Iranian-backed Hezbollah intensifies its presence along Israel’s northern border
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Amid all the geopolitical shifts, political changes are also coming in Mexico
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As a result, Mexico registered a trade deficit in April of almost $1.51 billion
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The bank said it expects inflation to stand at 4.7 percent at the end of 2023 and 3.1 percent at the end of 2024
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In Mexico, Fitch predicted that Banxico will have to continue raising rates, since the fight against inflation is still far from over
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This is the 14th time in a row that Mexico’s Central Bank has raised the rate in a nearly two-year cycle
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Once he is sworn in, he will serve as a Banxico vice governor through Dec. 31, 2030
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