By THE PULSE NEWS MEXICO STAFF Mexico’s soaring inflation rate hit a 21-year high in April, with consumer prices reaching an increase of 7.68 percent for the year, and 54 percent for that month alone, the National Institute of Statistics and Geography (Inegi) reported Monday, May 9. The Central Bank of Mexico (Banxico), which is expected to hike its benchmark
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Staying Afloat in the Mexican Economy
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By THE PULSE NEWS MEXICO STAFF The flow of economic remittances into Mexico by migrants working abroad grew by 18.47 percent annually compared to the same period last year, to a total of $13.911 billion, during the first quarter of 2022, the Central Bank of Mexico (Banxico) said Monday, May 2. This figure represents the highest increase during a similar
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By THE PULSE NEWS MEXICO STAFF Since the global covid-19 pandemic first erupted in March of 2020, Mexico’s economy has dropped two spots, from 15th to 17th place. according to the International Monetary Fund (IMF). That is the worst position it has held since 1988, when it occupied the same place in a list of 190 nations. The Mexican economy
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XINHUA Mexico will begin operating a digital currency issued by the Central Bank of Mexico (Banxico) in 2025, the bank’s governor, Victoria Rodríguez Ceja, announced Thursday, April 21. The new digital currency, which will be known as Central Bank Digital Currency (CBDC), is intended to generate alternative means of payment and providing greater financial inclusion. The social benefits derived from
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By THE PULSE NEWS MEXICO STAFF Despite the fact that a Mexican federal court last month granted a legal injunction to the Spanish energy firm Iberdrola that would allow it to continue operating its Dulces Nombres power plant in Pesquería, Nuevo León, and requiring that the country’s Federal Electricity Commission (CFE) reconnect it to the national grid, the CFE has
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By THE PULSE NEWS MEXICO STAFF The International Monetary Fund (IMF) in its April World Economic Outlook (WEO) report cut its economic growth expectation for Mexico in 2022 to 2.0 percent, 0.8 percentage points lower than it had forecast in January. In the diagnosis of January of this year, the agency had already slashed its estimate for Mexican 2022 growth
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By THE PULSE NEWS MEXICO STAFF Despite President Andrés Manuel López Obrador’s (AMLO) repeated promises to keep fuel prices down and ongoing tax discounts from the nation’s Finance Secretariat, gasoline prices in Mexico are now higher than in the United States. According to data from the consulting firm PetroIntelligence, regular gasoline sold Thursday in Mexico at an average of 21.51
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By THE PULSE NEWS MEXICO STAFF According to the National Institute of Statistics and Geography (Inegi), inflation in Mexico hit 7.45 percent in March, its highest level in 21 years. The annual inflation rate for the third month of the year was higher than the 7.28 percent reported in February, and exceeded the 7.38 percent forecast by the Bank of
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By KELIN DILLON In a letter sent by U.S. Trade Representative Katherine Tai to Mexico’s Secretary of the Economy Tatiana Clouthier on Thursday, March 31, the United States has now claimed that Mexican President Andrés Manuel López Obrador’s (AMLO) controversial energy reform has put $10 billion of U.S. investment at risk, particularly when considering the United States-Mexico-Canada Agreement (USMCA) treaty.
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