By KELIN DILLON In new data revealed on Thursday, Jan. 6, by the Mexican Secretariat of Finance (SHCP), Mexico’s difference between income and public sector spending reached 472.8 billion pesos in 2021, the largest deficit the country has seen in the last six years. Between January and November of 2021, Mexico brought in some 5.2 trillion pesos through tax revenue,
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By KELIN DILLON Just days after Mexico’s Financial Intelligence Unit (FIU) of the Secretariat of Finance and Public Credit (SHCP) publicly revealed the excessive spending habits of controversial Attorney General (FGR) Alejandro Gertz Manero, details about the documents Gertz’s own in-laws delivered to the FIU outlining his irregular financial practices surrounding some $7.9 million have come to light. The FIU
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By KELIN DILLON In an attempt to reduce its foreign debt, Mexico’s state-owned fuel company Petróleos Mexicanos (Pemex) received $3.5 billion in bond buybacks from the Mexican federal government, the country’s Secretariat of Finance (SHCP) reported on Tuesday, Dec. 7. This financial injection is equivalent to 74 billion pesos, about half the annual budget given to Mexico’s Secretariat of Public
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By KELIN DILLON Following an investigation by Mexico’s Financial Intelligence Unit (FIU) of the Secretariat of Finance and Public Credit (SHCP), financial records tracking the spending of controversial Attorney General (FGR) Alejandro Gertz Manero and recently disgraced former FIU head Santiago Nieto showed the two officials’ extravagant spending habits, doling out millions and millions of pesos for exotic cars, luxury properties
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By KELIN DILLON On Wednesday, Nov. 24, Mexican President Andrés Manuel López Obrador (AMLO) nominated Undersecretary of Expenditures of the Secretariat of Finance (SHCP) Victoria Rodríguez Ceja to head the Central Bank of Mexico (Banxico) despite her inexperience, in what many said was a snub to former SHCP head Arturo Herrera, who had been informed of his loss of the
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By THÉRÈSE MARGOLIS The Pandora Papers, which were released on Sunday, Oct. 3, by the International Consortium of Investigative Journalists (ICIJ), exposing the offshore financial havens and hidden riches of some of the world’s biggest movers and shakers, has opened a whole new can of worms for the leftist National Regeneration Movement (Morena) party of Mexican President Andrés Manuel López
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By THE PULSE NEWS MEXICO STAFF Mexican pop singer and international superstar Gloria Trevi and her husband, Armando Gómez Marínez, are currently under investigation by Mexico’s Financial Intelligence Unit (UIF) on alleged tax evasion charges, the Finance Secretariat (SHCP) announced Monday, Sept. 20. According to UIF, the couple is being charged with the tax evasion of more than 400 million
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By KELIN DILLON On the afternoon of Wednesday, Sept. 8, Mexican Secretary of Finance and Public Credit (SHCP) Rogelio Ramírez de la O presented Mexico’s 2022 budget plan to the Chamber of Deputies under the administration of President Andrés Manuel López Obrador (AMLO), featuring no increase in taxes, increased spending in the health sector, and historical levels of public investment.
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By THE PULSE NEWS MEXICO STAFF Mexican Finance (Hacienda, or SHCP) Secretary Rogelio Ramírez de la O will need to earmark at least $8.9 billion of federal funds for the state-run oil company Petróleos Mexicanos’ (Pemex) refinery division between 2022 and 2024 in order for the country to become self-sufficent in gasoline production, according to a study conducted by the
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By KELIN DILLON A massive extra 68 billion pesos have been given to the construction of Mexico’s controversial Dos Bocas refinery in Tabasco during the first semester of 2021 — more than what was given to the country’s health sector during the same time period despite the deadly coronavirus pandemic. Data from Mexico’s Secretariat of Finance (SHCP) revealed the initially
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