• PRUDENCE: The Mexican Government’s response to the global economic impact caused by the coronavirus pandemic has been weak, and the country is now lagging behind other countries who have quickly taken action in favor of stronger fiscal stimulus, according to some experts.
• ACTIONS: “One would expect to see countercyclical policy speeches by the Finance Minister. From the president we would expect him to bring a message of confidence and assurance”, said Enrique Díaz-Infante, a financial specialist at the CEEY think tank.
• MEXICO: So far, the Mexican Finance Ministry has announced measures to increase the availability of credit at the country’s development bank, fiscal changes to ease the use of these credit lines, along with the acceleration pending payments to the Mexican government’s suppliers and creditors.
• READY: “It is a serious problem that has to be solved. Currently, no organization can tell for how long this will last. As authorities, what we have to do is be ready to act. We have the instruments to confront it”, Javier Guzmán, a deputy governor at Mexico’s central bank board.
