Mexico SA - Mexico IMF: no more debt - with Felipe Calderon, 114% - Lamb : again the 16,000 pesos - Carlos Fernández-Vega Calderón
Among the smiles and self-praise, with renewed enthusiasm, launches these days the head of the Ministry of Finance, Ernesto Cordero, a voice might stink idyllic acid ambitions for next year, since you are cautioned not to the country more indebted, because Mexico exceeded its limit in this line. One might think that this warning comes from the fanatics who criticize traditional topping increasingly thrifty when Calderon administration, but it is not.
Indeed. The dark voice of warning to Cordero and his pastor does not come from the always well-documented analysis centers (public and private), but the very same International Monetary Fund (patron saint of the technocracy), who externalized their anxiety level by constant when rapid increase in the stock of debt (internal and external) of the Mexican public sector, responsible, some say, the tenants of Pinos.
According to the director of Western Hemisphere Department, IMF, Nicolas Eyzaguirre, Mexico must contain the accelerated process of borrowing, in particular towards the presidential process, not with foreign debt and maintain a balanced fiscal balance, must be maintained the direction of macroeconomic policy (El Universal). The financial agency advises countries coexisting within it (not all, of course, because the United States exceeded any imaginable dimension in terms of debt) to keep the debt in a range of 25 to 30 percent of gross domestic product, and Mexico already happened.
IMF's concern is not for less, especially when their own projections indicate that Mexico has a low potential growth scenario of 3 percent. What pay debt and reduce the deficit? With more debt and higher deficits? With a "growth of 2 percent annual average? On Sunday, La Jornada (Israel Rodríguez) summarized the problem: "at a rate of about 150 million dollars a day, including weekends and holidays, public sector net debt contracted internal and external to the equivalent of 55 000 100 billion in the last year. With that momentum, the current administration took the amount of liabilities to public sector unprecedented number of 355 000 U.S. $ 391.2 million, reports show the Ministry of Finance and Public Credit.
Between March 2010, when it totaled 300 000 367 100 000 dollars, and the same month this year, the net indebtedness of the federal public sector grew by 18.3 percent and is located in an amount slightly less than one third of the value total of goods and services produced by the Mexican economy in a year, according to information provided by the agency to Congress. The 355 000 391 200 000 dollars reached by the internal and external net borrowing in March this year amount to 4 billion 250 million 253 thousand pesos (against one trillion 985 000 812 000 000 December 2006), an amount that represents 31.4 percent of gross domestic product (GDP), an indicator that measures the value of goods and services produced by the economy. This
, not including debt that the government does not consider as such, but it always pays to Mexican resources: about 750 billion Fobaproa / IPAB, the 160 billion bailout of the road, the 350 000 Pidiregas million of the Federal Electricity Commission. In addition, the debt of the states, which exceeds 300 billion and other debt. Therefore, the account must be added not less than one trillion 600 billion pesos, to bring the total liabilities to about 6 billion, something like 50 percent of gross domestic product.
early April last comment in this space, with concern growing rapidly: the internal and external indebtedness of the federal public sector, which in its 51-month stay in Los Pinos (until Feb.) the Calderón government has had courtesy of doubling the per capita debt of the Mexican-including infants-, from 18 thousand 912 pesos in December 2006 to 37 000 876 pesos at the end of the second month of 2011, regardless of other contingent liabilities (such as Government debit call it not recognized as such, but also paid by those who inhabit this country-as Pidiregas of the Federal Electricity Commission, the road Fobaproa and rescue, among others, plus the state debt, which the head must balance increased by approximately 10 thousand additional dollars, at least). That gloomy assessment
not a product of misperception (Los Pinos dixit) or a gadfly who speaks ill of Mexico, but the latest statistics (Wednesday) of the Finance Ministry itself (which promotes a country like of wonderful non-existent), which allows to specify that in the aforementioned period, the balance of the federal public sector debt (government, agencies and state enterprises and development banks) recorded a fearful increase of 114 per cent when measured in pesos, and 91 percent if done in dollars, which over calderonato such liability has grown at an average daily rate of nearly one thousand 475 million pesos ( little more than a million pesos per minute).
liquids speaking, the increase in public debt (the recognized as such and in this period) was 2 trillion 256 billion pesos, or if you prefer, of 166 billion dollars, something truly shameless in especially if one recalls that at the time of his election campaign the current occupant of Los Pinos fiercely accused his opponents that the only agenda that had was precisely the country in debt and Mexicans.
That is the concern of the IMF, and panic among the people. But the shepherd and his sheep are in the smiles and self-praise.
cake slices
The 6 thousand dollars per month strike again: the middle class in Mexico is undergoing a period of expansion and consolidation, which means that families can begin to access credit, start to buy a house begin to acquire a car, start using the credit card again (guess who said it?) ... so good: justice come to terms with a terrorist (Osama), but when will the another terrorist (George W. Bush)? That
0 comments:
Post a Comment