AMLO Inaugurates Banking Convention in Yucatan

The president of Mexico, Andres Manuel Lopez Obradorinaugurated this afternoon the 86th edition of the Banking Convention of the Association of Banks of Mexico (ABM), which takes place in the city of Mérida, Yucatan.

In his inaugural message issued from the International Congress Center (CIC), the federal president spoke about the national economic outlook and highlighted that last year the country grew at a rate of 3.1 percent, which is higher than that of the United States and China, in addition that no additional public debt was contracted and the one it already has has grown less than in the last three six-year terms

“We have more collection than before, we have not increased taxes or increased the price of gasoline, diesel, gas, electricity, there is political stability, which is something very important,” he mentioned.

López Obrador offered a decalogue of optimistic data on the situation of the mexican economysuch as the registration of 21 million 660 thousand workers in the IMSSwhich are registered with the highest salaries in history (16 thousand pesos per month).

He also pointed out that the unemployment rate in recent years has been the lowest on record, although the southeast still lacks skilled labor.

On the minimum wage, he stressed that during his government it has increased 90 percent in real terms, which has not happened for 40 years.

He recalled that this year 600 billion pesos are being dispersed for the benefit of 25 million households through welfare programs, which represents 71 percent of the total population in the country.

“We have a record in receiving remittances, our countrymen sent 58.51 billion dollars last year and this year, because we already have the data for January and the estimate for February, they will exceed 60 billion dollars,” abounded.

He announced that during 2023 more than one trillion pesos will be allocated to infrastructure works, which represents a record figure.

President López Obrador added that the peso is the most appreciated currency above the dollar and the reserves in the Bank of Mexico reach 200 billion dollars.

The earnings report of the Multiple Mexican Banking in 2022 it was 236 thousand 743 million pesos, a figure never before obtained in the history of the country.

“I end by reiterating the commitment that I made from the beginning of our government, not to change the rules for the operation of the banks in Mexico, continue to do legal business in Mexico, continue to obtain legitimate and reasonable profits, let’s all continue promoting progress with justice in our country,” he said.

continue to grow

The president of the Association of Banks of MexicoDaniel Becker Feldman, declared that different international events and a new geopolitical order have made Mexico one of the most attractive destinations to receive investment and create a pole of global growth with equity and social justice for the entire country.

The bankers’ representative called on the union to continue working for the economic good of the country, but in this sense he also called on the authorities to provide sufficient tools so that this can be achieved.

Becker Feldman thanked President López Obrador for his government’s ability to maintain economic stability in the face of the storm that caused the covid-19 pandemicsince it has been a necessary condition to have a liquid, robust and ready financial system.

“From the Association of Banks of Mexico, together with the Ministry of Finance (and Public Credit), we continue to promote initiatives that achieve a Mexico that is increasingly inclusive,” he stressed.

Regarding the event, he indicated that the prepared agenda “is provocative” due to the interest of bank businessmen and financial institutions, so that each one is ready to face what the immediate future holds, such as technological disruption, new economic scenarios, strategies to create real and sustainable inclusion, as well as the urgency of reinventing Mexican banking to create new business and growth opportunities.

green bonds

During his speech, the Undersecretary of Treasury and Public CreditGabriel Yorio González, announced the creation of the “N Sustainable Bond”, denominated in pesos and fixed rate, as an additional instrument that will contribute to the consolidation of the Mexican financial hub.

“With the issuance of the N Sustainable Bond, we conclude the strategy that his administration began to green the government’s financial asset resources for the markets,” he said.

The federal official recalled that within the framework of the 86th Banking Convention, the sustainable taxonomy of Mexico was also presented, which is the financial policy tool that will allow the mobilization of resources for projects and actions with environmental and social benefits.

“With this tool, Mexico is positioned as the first country globally to explicitly include gender criteria as sustainability components and with this it seeks to break the existing gaps, not only through financial inclusion, but also to generate the organic changes that allow more women to easily access more credits from private banks”, she added.

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presidential support

In his turn, the governor of Yucatan, Mauricio Vila Dosal, thanked the ABM for having chosen the entity as the venue for this important event, since the Banking Convention had not left Acapulco, Guerrero for more than 20 years.

He stressed that Yucatan is currently going through a historic moment, as he assured that in 2021 the year of greatest economic growth in the history of the entity was experienced and the largest number of jobs was also generated.

As for 2022, Mauricio Villa He pointed out that it was the year in which the largest amount of direct foreign investment was captured for the state and in which the most tourists have come to Yucatan.

“This moment that is being lived in Yucatan It could not be possible without that push to move the southeast of the country forward and today, working hand in hand with the federal government and the municipalities, we are creating the conditions for this growth and good results to be sustainable in the medium and long term,” he added. the governor, taking the opportunity to thank President López Obrador for his support.

Also present during the inauguration were the president of the National Banking and Securities Commission, Jesús de la Fuente Rodríguez, the Governor of the Bank of Mexico, Victoria Rodríguez Ceja and the Secretary of Finance and Public Credit, Rogelio Ramírez de la O.

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