From Bloomberg, yesterday:
A bill to boost bank lending in Mexico would have an immediate impact on the economy, helping to boost growth as soon as next year, Deputy Finance Minister Fernando Aportela said.
The bill encourages development banks to work more closely with the financial industry to lift lending, which reached only 26 percent of gross domestic product last year, Aportela said today at the Bloomberg Mexico Conference in New York. Aportela said he expects the reform bill, which was presented in May, to be debated in special congressional sessions in August.
Yet another step forward in tapping into Mexico’s largely untouched economic potential. If this reform goes through – and President Pena Nieto’s track record so far suggests that it will – people who invest in Mexico now, whether it be business or real estate – can probably expect to see good results.
Although I’ve heard nothing to this tune, could we be hopeful that a bill to encourage more bank loans may bring Mexican mortgages for North American and European buyers back into the picture?
-by Thomas Lloyd
[…] Mexico's Lending Reform to Boost Economic Growth � Time to Invest! […]