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 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 Banxico Foresees -8.8 Growth for 2020 The Central Bank of Mexico (Banxico) presented three separate scenarios for the country’s 2020 economic growth, marking a drastic difference between the “benevolent” and the “drastic” potential outcomes. Banxico’s benevolent forecast said that the Mexican gross domestic product (GDP) would slump by “only” -4.2 percent, while the drastic one put the
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By RICARDO CASTILLO Bleak Outlook on Poverty There is no question that Mexico’s gross domestic product will plummet this year. The question is how much it will fall, and guesses range from between 5.7 percent to 10.5 percent. A recent study by the National Council for the Evaluation of Social Development (Coneval) presented two different economic scenarios for the rest
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XINHUA While the Mexican government has admitted that at least 500,000 workers have already lost their jobs due to the covid-19 pandemic, the Mexican-based HR Ratings is predicting twice that many jobs will be lost in the second quarter of 2020. On Wednesday, May 8, the agency projected a 36 percent nosedive in Mexico’s gross domestic product (GDP) in the
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By RICARDO CASTILLO 2020 News Forecasts An old adage used to say that someday news would travel so fast that we would know the facts about a news item even before it happened. I’ve got news for you; that’s no longer an adage. Hence, here’s a vague glimpse of the shape of news to come in Mexico during 2020, which
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By RICARDO CASTILLO García Luna Refuses Mexico’s Help Shackled and wearing an orange prison jumpsuit, Mexico’s former top cop Genaro García Luna appeared before Judge David Horan of the Dallas Federal Court on Tuesday, Dec. 17. García Luna, who was the public security secretary under former Mexican President Felipe Calderón (2006-2012), declined during his brief 10-minute court appearance his right
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XINHUA A renewed North American free-trade agreement alone cannot spur Mexican economic growth in Mexico, the Private Sector Center for Economic Studies (CEESP) said in its weekly report Sunday, Dec. 15. To accomplish growth, Mexico will need to take additional measures, namely modernizing its productive sector, the CEESP report said. “Once it takes effect, the agreement is expected to have a significant
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By EARL ANTHONY WAYNE, former U.S. ambassador to Mexico and former U.S. deputy ambassador to Afghanistan
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XINHUA … Mexico’s economy underwent a recession in the first half of 2019 and stagnated in the third quarter…
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