Economy & Finance

Economy & Finance

Plan to raise border states taxes faces oppostion

Reuters - A key part of Mexico's planned tax overhaul could come under pressure as it goes through the Senate, with a top lawmaker on Monday saying plans to raise sales tax in border states should be rejected.

Peso rally could spur bigger interest rate cut

Reuters - Mexico's central bank could lower borrowing costs by more than expected next week if the country's currency keeps gaining ground and undercuts the stimulus policymakers delivered to a weak economy with last month's cut.

Bernanke touts strides in Mexico's monetary policy

Reuters - Federal Reserve Chairman Ben Bernanke on Monday praised Mexico's central bank for reining in inflation and keeping financial crises at bay. He said transparency and independence had been key to increasing stability in the Mexican economy.

Carstens says Mexico prepared for U.S. default

Reuters - Mexico has the liquidity necessary to handle the extreme and unlikely event of any debt default by the United States, Mexico's Central Bank Governor Agustin Carstens said, highlighting Mexico's $170 billion in reserves and its flexible credit line.

Mexico's mayors are under the gangster gun

Global Post - Mexico is one of the stingiest countries when it comes to the share of public revenue that goes to mayors’ coffers. Now, the municipal treasuries are being sucked drier by gangsters’ demands for contracts and a cut of everything spent by city halls.

Industrial production rises by most in 6 months

Reuters - Mexican industrial output rose in August versus the previous month at the fastest pace in six months as construction and manufacturing strengthened, welcome news as growth sputters in Latin America's no. 2 economy.

Politicians and statisticians hunt for the middle class

The Economist - In the hallowed name of the middle class, Mexico’s politicians have been doing a lot of huffing and puffing lately. The source is the president’s plan to raise income tax on salaries over $38,000. If only the middle class were so lucky.

Government prepared to adjust tax overhaul plan

Reuters - Mexico's government is willing to adjust parts of a proposed tax overhaul that aims to boost the country's poor tax take by revising unpopular levies on schooling and mortgages, the head of the ruling Institutional Revolutionary Party (PRI) said on Wednesday.

IMF slashes growth outlook,for Mexico

Reuters - The International Monetary Fund slashed its 2013 growth outlook for Mexico on Tuesday after a weaker-than-expected first part of the year, while it dialed back expectations for growth in Brazil next year.

Mexico urges U.S. to reach deal on debt ceiling

Reuters - Mexico's finance minister urged the United States on Tuesday to reach an agreement on raising its debt ceiling, saying a failure to do so could seriously damage financial markets and the global economy.

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