By THE PULSE NEWS MEXICO STAFF Due to their speculative nature and frequent use for illicit purposes, cryptocurrencies are not and will not be legal assets in Mexico, Finance (SHCP, or Hacienda) Secretary Arturo Herrera said Monday, June 28. “Cryptocurrencies are prohibited for use in the Mexican financial system. There is nothing that is expected to change on that issue
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By RICARDO CASTILLO The last brawl in this legislative year in the Mexican Congress was over the so-called “Monreal Bill” that was stuck in the middle of a verbal debate and its vote postponed until February. The bill is also known as the “Bank of Mexico,” or “Banxico Bill,” and it has already passed with leeway at the Senate, and
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By RICARDO CASTILLO Banxico Law Postponement The Mexican Chamber of Deputies on Tuesday, Dec. 15, announced it was postponing the debate on the Bank of Mexico (Banxico) Bill approved last week by the Senate until February. Deputies Chamber President Laura Rojas made the announcement on social media after the majority National Regeneration Movement (Morena) insisted on discussing and voting on
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By RICARDO CASTILLO AMLO’s Washington Itinerary Here are a few things we know about Mexican President Andrés Manuel López Obrador’s (AMLO) scheduled visit to the White House on Wednesday, July 8. Previously to his meeting with U.S. President Donald Trump, the Mexican head of state will visit two monuments: a statue of Benito Juárez and the Abraham Lincoln Monument. Later,
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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 Jalisco Skids Deeper in Debt As pressure grows on Mexican President Andrés Manuel López Obrador (AMLO) “to make use” of credits available from international funding organizations, the president becomes more adamant and intrinsic about pushing the nation into further debt. Much of that pressure is coming from opposition state governors, who convened last week in Parras, Coahuila,
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By RICARDO CASTILLO A Call to Civil Disobedience TVAzteca anchorman Javier Alatorre in the station’s nightly newscast “Hechos” (“Facts”)created a humongous scandal on Friday, April 17, after claiming the following: “As every night, Health Undersecretary Hugo López-Gatell led the (press) conference on Covid-19 in Mexico. But his figures and his conferences have become irrelevant. Furthermore, and to put it plainly,
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By RICARDO CASTILLO Extended Isolation The full containment of the Covid-19 pandemic in Mexico will require much time than originally planned, so the stay-home period may have to be extended from the original April 30 to May 30, said Public Health Undersecretary Hugo López-Gatell, who is in charge of monitoring the spread of the disease. The announcement was made during
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By RICARDO CASTILLO In mid-July, former Mexican Treasury Secretary Carlos Urzúa, upon presenting his resignation to President Andrés Manuel López Obrador (AMLO), launched a frontal attack against AMLO’s Chief of Staff Alfonso Romo Garza in an interview. “It’s most difficult to understand the type of relationship, ideologically speaking, Romo has with the president,” Urzúa said. “He’s an extreme right-winger.” Urzúa
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