Mexico's finance ministry is considering extending relaxed banking credit rules to help its battered economy recover, a top official said on Wednesday, after it presented an austere 2021 budget that leaves little room to maneuver.
MEXICO CITY - Mexico’s finance ministry is considering extending relaxed banking credit rules to help its battered economy recover, a top official said on Wednesday, after it presented an austere 2021 budget that leaves little room to maneuver.
The measures were introduced earlier this year as part of the government’s strategy to reduce the impact of the coronavirus containment in the country, which is still scarred by memories of the 1995 “Tequila crisis,” when Mexicans lost homes and savings. On Tuesday the government unveiled a lean budget that aims to reduce the country’s debt as a proportion of GDP in 2021 even as it struggles with high coronavirus infections and a slow economic recovery.
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