• PROGRAMS: Four of the six loan programs announced by Mexico’s national development bank (NAFIN) to help entrepreneurs to deal with the coronavirus shock already existed and present very few tweaks, according to a tally by Monterrey-based El Norte newspaper.
• NOVELTY: Of the two novel loan programs one of them is a new edition of a program (Garantía Selectiva) that NAFIN decided to close in 2019. The other new program (Die and Tools) is focused on providing loans of up to US $850,000 for companies in the die equipment and industrial tools.
• POSITIVE: “The program (Die and Tools) as it is is positive and arrives in a good moment”, said Alfonso Peña Morales, head of a cluster in the northern state of Nuevo León develop to produce industrial tools and that groups 40 companies of all sizes.
• CRITICISM: As a whole, the López Obrador Administration has being criticized for not including massive fiscal relief to deal with the coronavirus economic shock and ambitious support programs for the private sector. The Mexican economy will contract 8% in 2020, according to Bank of America.
