Mauricio González
Former Director of Economic Policy, Finance Ministry
Guillermo Valdes
Former Director, Center of Investigation & National Security


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Recent Country Insights

Economics: Internal credit sustains growth so far in 2024, especially in its consumer component
MEXICO · Report · 16 Jul 2024

Although it continues to grow at a fast pace in response to the momentum of consumer credit, both from bank and non-bank sources, so far in 2024 financing to the non-financial private sector is showing a slight deceleration. In contrast, external financing has been contracting since 2022 and, due...

Politics: Power grab by controversial PRI leader perceived as potential party death knell
MEXICO · Report · 15 Jul 2024

Last week PRI National President Alito Moreno of the PRI had more to say about the dwindling number of members of who continue to resist his control over the party. At a PRI leadership event from which dissidents were barred and where a unanimous show of hands waved through by-law changes to allo...

Politics: Some of Sheinbaum’s latest cabinet picks provide a reality check vs. the praise her previous choices enjoyed
MEXICO · Report · 08 Jul 2024 · 1 response

After winning praise over the course of June for 13 initial cabinet picks with strong professional credentials and experience, last week President-elect Claudia Sheinbaum included some more explicitly political choices when announcing four more appointments. A case in point is the decision to ret...

Economics: Latest data confirms deterioration of public finances
MEXICO · Report · 08 Jul 2024 · 1 response

Public finances continue to deteriorate just as had been expected ever since Congress passed the 2024 federal budget last November. The public deficit in its broadest definition (PSBR) expanded a real 153% yoy in January-May 2024 alongside a Federal Government deficit that was 2.5 times greater t...

Politics: The second round of six Sheinbaum cabinet choices is also reassuring, but the toughest decisions remain
MEXICO · Report · 01 Jul 2024

A week after winning kudos for her first batch of a half dozen cabinet picks Claudia Sheinbaum reprised that performance by unveiling six more who also garnered praise, even from some of López Obrador’s critics. The president-elect again reassured economic and political actors by bringing in peop...

Economics: Recent economic indicators suggest that 2024 GDP growth will break slightly below 2%
MEXICO · Report · 01 Jul 2024

The economy continued to slow during the second quarter. After first quarter aggregate demand slowed to 2.6% YoY, indicators for April revealed a further loss of momentum, with the monthly GDP proxy (0.9% yoy) sputtering to its lowest reading in 30 months. Industrial activity only crawled 0.6% hi...

Economics: Aggregate demand data points to slowdown as services slow slightly and consumption of domestic goods remains stalled
MEXICO · Report · 25 Jun 2024

First quarter aggregate demand and supply figures show demand expanded 2.6% yoy, down from the 3.7% pace of 2023. Private consumption, the weightiest demand component, grew 2.6% yoy in the quarter, after having risen 3.5% in 2023. This component’s performance varies considerably depending on the ...

Politics: Sigh of relief in general at Sheinbaum’s first batch of cabinet pics, but the jury’s out until all are named
MEXICO · Report · 25 Jun 2024

Observers from across the political spectrum gave a thumbs up for all but one of the six cabinet picks Claudia Sheinbaum announced on June 20. They are in addition to current Minister of Finance, Rogelio Ramírez de la O, whom the President-elect announced on June 3 would remain in that post once ...

Economics: External and internal risks weigh on historically high FDI over the medium term
MEXICO · Report · 17 Jun 2024

FDI remained high through 1Q24, but new investment flows have slowed to a trickle, and we look for both internal and external factors to seriously limit inflows over an intermediate time horizon. At 20.313 billion dollars, foreign direct investment in Mexico in the aggregate turned in a favorable...

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