• Latest
  • Trending
  • All
  • News
  • Lifestyle
Exclusive: Mexico may extend relaxed bank credit rules to help economy grow thumbnail

Exclusive: Mexico may extend relaxed bank credit rules to help economy grow

February 21, 2023
New York State Young Republicans put in timeout after racist messages exposed thumbnail

New York State Young Republicans put in timeout after racist messages exposed

October 19, 2025
It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future thumbnail

It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future

October 17, 2025
Our offense vs. their defense: Chicago Bears thumbnail

Our offense vs. their defense: Chicago Bears

October 16, 2025
Healey slams shutdown: ‘Washington needs to get back to work.’ thumbnail

Healey slams shutdown: ‘Washington needs to get back to work.’

October 16, 2025
Ayanna Pressley’s Stolen Land Whining: Gripes on Indigenous Day, Keeps Martha’s Vineyard Mansion thumbnail

Ayanna Pressley’s Stolen Land Whining: Gripes on Indigenous Day, Keeps Martha’s Vineyard Mansion

October 16, 2025
Julian Edelman Reveals Locker Room Truth on Deflategate as Tom Brady Gets Compared to Caitlin Clark thumbnail

Julian Edelman Reveals Locker Room Truth on Deflategate as Tom Brady Gets Compared to Caitlin Clark

October 15, 2025
Who was the Saints’ breakout player vs. the Patriots? thumbnail

Who was the Saints’ breakout player vs. the Patriots?

October 15, 2025
The Good, the Bad and the Ugly from the Saints loss to the Patriots thumbnail

The Good, the Bad and the Ugly from the Saints loss to the Patriots

October 15, 2025
Inside Massachusetts’ $247mln crypto ATM scam: ‘Nearly impossible to investigate’ thumbnail

Inside Massachusetts’ $247mln crypto ATM scam: ‘Nearly impossible to investigate’

October 14, 2025
Saints vs. Patriots: Week 6 Open Thread thumbnail

Saints vs. Patriots: Week 6 Open Thread

October 12, 2025
New Orleans Saints vs. New England Patriots Inactives thumbnail

New Orleans Saints vs. New England Patriots Inactives

October 12, 2025
Saints vs. Patriots: Game time, TV, streaming, radio, and odds thumbnail

Saints vs. Patriots: Game time, TV, streaming, radio, and odds

October 12, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate
Sunday, October 19, 2025
66 °f
Wellfleet
58 ° Tue
63 ° Wed
68 ° Thu
61 ° Fri
  • Login
  • Register
FREE Cape Cod News
DONATE
  • FREE Cape Cod News
  • Cape Cod News
  • News
    • News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
No Result
View All Result
Free Cape Cod News
No Result
View All Result
  • FREE Cape Cod News
  • Cape Cod News
  • News
  • Politics
  • Business
  • World
  • Entertainment
  • Lifestyle
  • Photos
  • Videos
Home Business

Exclusive: Mexico may extend relaxed bank credit rules to help economy grow

FREE Cape Cod News by FREE Cape Cod News
February 21, 2023
in Business
Reading Time: 2 mins read
Donate
0
Exclusive: Mexico may extend relaxed bank credit rules to help economy grow thumbnail

Cape Cod News

634
SHARES
1.4k
VIEWS
Share on TwitterShare on Facebook

Mexico’s finance ministry is considering extending relaxed banking credit rules to help its battered economy recover, a top official said on Wednesday, after it presented an austere 2021 budget that leaves little room to maneuver.

Deputy Finance Minister Gabriel Yorio said the ministry was in talks with the banking industry and the central bank about the possible extension until next year of the temporary measures designed to avoid defaults and loss of collateral.

The measures were introduced earlier this year as part of the government’s strategy to reduce the impact of the coronavirus containment in the country, which is still scarred by memories of the 1995 “Tequila crisis,” when Mexicans lost homes and savings.

Yorio said he hoped an extension could be announced within a “couple of weeks,” while suggesting the facilities could be restricted to certain sectors of the economy to limit risks to the financial system.

Earlier this year, the finance ministry and the central bank agreed to loosen credit quality restrictions for banks. In turn, banks were able to offer borrowers repayment options so as to avoid defaults.

“What we have to do, maybe, is be selective with the sectors,” Yorio said.

Industries that had already reopened and potentially had better cash flow might be excluded, he said, to focus resources on others, such as airlines, that would face a slow recovery.

On Tuesday the government unveiled a lean budget that aims to reduce the country’s debt as a proportion of GDP in 2021 even as it struggles with high coronavirus infections and a slow economic recovery.

Speaking in an interview at the National Palace a day after the budget, Yorio acknowledged that it could take two to three years for Mexico’s economy to reach its pre-pandemic size.

“If the economic opening is delayed, it might take us even more time,” he said, adding that the recovery was a concern for credit ratings agencies which have Mexico on a negative outlook.

Ratings agencies have Mexico’s bonds still several notches above speculative grade, or junk. But investors increasingly worry that they will eventually follow those of state oil company Petroleos Mexicanos in its descent into junk.

“They all measure the credit risk…that’s why it is important to maintain stable debt,” Yorio said.

“But the second most important variable is in terms of growth,” he said, adding that the risk of a downgrade was one of the main worries in the ministry.

President Andres Manuel Lopez Obrador has been an outlier among both wealthy and emerging nations, insisting on tight spending limits even as the economy fell in the deepest recession since the 1930s Great Depression.

Latin America’s second-largest economy was already in a mild recession before the pandemic.

The room for economic stimulus from budget measures was constrained in a country that collects just 15% of GDP in tax, Yorio said, hence the need to turn to the financial system to support growth.

“Not all measures have to come from the budget,” he said.

Read More

Tags: bankingbusinesseconomyMexico

FREE Digital Newspaper Subscription!
Sign up for your free digital subscription. The FREE Cape Cod News

Unsubscribe
FREE Cape Cod News

FREE Cape Cod News

Free Cape Cod News is what's happening in the Cape Cod, U.S and World & what people are talking about right now. Local newspaper. Stay in the know. Subscribe to get notified about our latest news.

Related Posts

Jared Kushner Is Now A Billionaire thumbnail
Business

Jared Kushner Is Now A Billionaire

by FREE Cape Cod News
September 18, 2025
The most troubling feature of the job market is how thinly spread gains are, top economist says — ‘this only happens when the economy is in recession’ thumbnail
Business

The most troubling feature of the job market is how thinly spread gains are, top economist says — ‘this only happens when the economy is in recession’

by FREE Cape Cod News
September 9, 2025
Trump’s BLS appointee suggests suspending jobs report entirely until methods of data collection are ‘corrected’ thumbnail
Business

Trump’s BLS appointee suggests suspending jobs report entirely until methods of data collection are ‘corrected’

by FREE Cape Cod News
August 14, 2025
5 Essential Steps for Idea Validation and Market Research thumbnail
Business

5 Essential Steps for Idea Validation and Market Research

by FREE Cape Cod News
August 4, 2025
Load More
Please login to join discussion

Follow Us on Twitter

FREE Cape Cod News - Your source for local Cape Cod news, latest breaking U.S. and World news. Every day, all day. Subscribe for your favorite categories.

  • Trending
  • Comments
  • Latest
Businesses compete to battle California’s blackouts thumbnail

Businesses compete to battle California’s blackouts

August 28, 2020
New York State Young Republicans put in timeout after racist messages exposed thumbnail

New York State Young Republicans put in timeout after racist messages exposed

October 19, 2025
Cheering support and instant condemnation: US lawmakers respond to attack on Iran thumbnail

Cheering support and instant condemnation: US lawmakers respond to attack on Iran

June 23, 2025
New York State Young Republicans put in timeout after racist messages exposed thumbnail

New York State Young Republicans put in timeout after racist messages exposed

0
Our offense vs. their defense: Chicago Bears thumbnail

Our offense vs. their defense: Chicago Bears

0
It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future thumbnail

It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future

0
New York State Young Republicans put in timeout after racist messages exposed thumbnail

New York State Young Republicans put in timeout after racist messages exposed

October 19, 2025
It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future thumbnail

It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future

October 17, 2025
Our offense vs. their defense: Chicago Bears thumbnail

Our offense vs. their defense: Chicago Bears

October 16, 2025

FREE Cape Cod News On Twitter

Today’s News

  • New York State Young Republicans put in timeout after racist messages exposed October 19, 2025
  • It’s the Governor vs. the Oysterman, and Democrats’ Pick Will Tell Us a Lot About the Party’s Future October 17, 2025
  • Our offense vs. their defense: Chicago Bears October 16, 2025
  • Healey slams shutdown: ‘Washington needs to get back to work.’ October 16, 2025
  • Ayanna Pressley’s Stolen Land Whining: Gripes on Indigenous Day, Keeps Martha’s Vineyard Mansion October 16, 2025
FREE Cape Cod News

Copyright © 2024 Free Cape Cod News

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • FREE Cape Cod News
  • Cape Cod News
  • News
    • News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
  • Login
  • Sign Up

Copyright © 2024 Free Cape Cod News