AMLO Raids Mexico Cash Reserves

Close up of Mexican Peso banknotes and coins.

AMLO ratifies that it will use the resources of the Stabilization Fund

AMLO reported that he has met with Mexican businessmen and they assured him that they want to invest in the country

The president of Mexico, Andrés Manuel López Obrador (AMLO) , ratified that his administration will use the resources available in the Budget Income Stabilization Fund contemplated by the Ministry of Finance and Public Credit (SHCP) given the possibility of closing 2019 With lower budget revenues.

In his morning press conference, López Obrador said: “We are going to wait as the year ends, anyway, we have that fund and other funds there are savings, we have no problems in public finances.”

The Mexican president said that public finances are healthy and taking care not to increase public debt this 2019 and next year.

Public finances are healthy and we are also taking care not to increase debt this year and we do not want to increase public debt next year, we are doing a good administration job. ”

AMLO said that its administration will wait for the decision the Bank of Mexico will take these days on interest rates and respect it

We must see what decision the Bank of Mexico will take these days on interest rates, we will be respectful of the Bank of Mexico, of its autonomy, what they decide will be the most convenient for the country ”.

The president reported that he has been meeting with Mexican businessmen and they assured him that they want to invest in the country.

I have been meeting with businessmen, they are investing in the country yesterday I met with businessmen from Michoacán, Nuevo León, from Jalisco, also with businessmen from Mexico City, I met with Carlos Slim, he is willing to continue investing in the country, he has always said that it is best tvo invest in Mexvico. ”

GDP growth in the first half of the Government of other mandates

Before reports that the second quarter of 2019 was the worst in ten years, AMLO showed a graph with the performance of the first quarters of the six-year term of Ernesto Zedillo, Vicente Fox, Felipe Calderón and Enrique Peña Nieto. 

López Obrador was also questioned on how to build trust among investors and responded that there is already trust.

He stated that the negative signs have to do with conservatism, “with the irrational.” They want, he said, to keep insisting.

He revealed that days ago he was invited to eat at the home of Mr. Alberto Bailleres, with Carlos Slim, Germán Larrea, Lorenzo Servitje and Antonio del Valle, among others. He said it was a respectful and enjoyable meeting, where he talked about Mexico and how to help move the country forward.

Nobody talked about investing in other countries, AMLO said.

He noted that Bailleres informed him that one of the oil contracts he obtained is already maturing and they are already planning to extract oil.

López Obrador also assured that they are making progress in the negotiation on gas pipelines.

Anyway, there are unbeatable conditions, ”said the president.

Source: noticiero.televisa

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