Creeping Poverty

MEXICO - Report 18 Jun 2013 by Mauricio Gonzalez, Ernesto Cervera and Carlos Noriega
Executive SummaryLast week, Mexico's federal government announced that it intends to issue one trillion pesos (roughly USD 78.8 billion) in loans through the country's development banks over the course of 2013. Officials report that this sum would mark a real 10% increase in such credit compared to 2012, and is three times the rate of growth the economy is expected to record this year. Even before taking office, the Peña administration's party (PRI) insisted on the need to transform the current system of development banks so that it can function as a real lever for achieving economic growth...

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