IMF approves smaller $61 billion credit line for Mexico

herrera

11/25/19 – Reuters

By Andrea Shalal, Anthony Esposito

The International Monetary Fund said on Monday its executive board had approved a smaller two-year lending arrangement for Mexico worth $61 billion, replacing the current flexible credit line of about $74 billion.

It said the new arrangement would bolster market confidence at a time when trade uncertainty, a sharp pullback in capital from emerging markets and increased risk premiums posed continued external risks to the Mexican economy.

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IMF Says Mexico Credit Line May Be Cut From Current $74 Billion

herrera

11/20/19 – Bloomberg

By Eric Martin and Patrick Gillespie

The International Monetary Fund’s board plans to vote on Mexico’s request to renew its flexible credit line, possibly for less than the current $74 billion, before it expires next week.

Mexico is interested in reducing the size now that there’s greater certainty around its trade relationship with the U.S., Alejandro Werner, the IMF’s Western Hemisphere director, said in an interview Wednesday at Bloomberg’s headquarters in New York. Werner said he expects the board’s decision before the current agreement expires Nov. 28.

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Mexico Has a Productivity Problem

vendor

11/18/19 – Bloomberg

By Eric Martin

Walk down the side-streets just off Mexico City’s iconic Paseo de la Reforma boulevard, and you’ll see dozens of examples of something that is holding back growth: the informal economy.

Workers on the taco carts or shoe-shine stands don’t pay taxes, foregoing the benefits of a social safety net. And they often sit idle for most of the day.

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Mexican government mulls legalization of 18 million “chocolate cars”

traffic cars street traffic jam
Photo by Life Of Pix on Pexels.com

10/23/19 – Freight Waves

By Noi Mahoney

Authorities in Mexico have proposed legislation to legalize around 18 million so-called “carros chocolates,” or chocolate cars – vehicles illegally imported into the country from the United States.

If the proposed legislation passes, it would be a blow to the Mexican automotive industry, which relies heavily on global supply chains from U.S., European and Asian producers to make cars.

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Mexico Elite Tremble From Threat of Tax Crackdown Under New Law

taxes accounting business

10/16/19 – Bloomberg

By Michael O’Boyle

Mexico’s elite are quaking after leftist lawmakers passed a new law that makes tax evasion a type of organized crime that could justify the seizure of assets even before judges rule on the validity of charges.

Lawmakers in the country’s lower house Tuesday passed the bill that would make tax fraud of more than 7.8 million pesos ($400,000) a national security threat and a type of organized crime that could be punished with prison without parole during trial and with as much as nine years behind bars.

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Economic substance and arm’s length – Mexico

taxes accounting business

10/15/19 – International Tax Review

By Oscar Campero and Yoshio Uehara of Chévez Ruíz Zamarripa y Cía

Mexican taxpayers are obliged to determine their taxable income and authorised deductions derived from related party transactions considering the prices that would have been used in comparable transactions with or between independent parties. This is, in Mexico the arm’s length principle is recognised for tax purposes.

In the previous administration (2), the transfer pricing department within Mexico’s Tax Administration (“SAT” for its acronym in Spanish) had an important role, from handling a mere documentation compliance matter to acting as a strategic risk assessment tool for multinational companies (“MNEs”).

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Mexico’s Senate aims to pass bills cutting bank fees by end-October: MORENA

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10/15/19 – Reuters

By Diego Oré

Mexico’s Senate aims to pass a first raft of bills to regulate fees for financial services by the end of October, said Ricardo Monreal, Senate leader of the ruling National Regeneration Movement (MORENA) party.

Last November, shortly before President Andres Manuel Lopez Obrador took office, MORENA lawmakers presented a bill to limit bank fees, sparking an investor backlash that pummeled the peso MXN=, Mexico’s S&P/BMV IPC stock index and banking shares.

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EVENT TOMORROW | Mexico Public Health Forum 2016

medicine healthcare - stethoscopeWHEN: Tomorrow, September 27, 2:00-4:00pm

WHERE: Wilson Center, Washington, DC

Click to RSVP.

As Mexico’s demographic profile and economy change over time, the country is facing a wide array of new public health challenges, from an ageing population to the rise of non-communicable diseases. In fact, the country now faces a “double burden” of disease: while policy-makers and public health officials continue to deal with the problems of infectious disease and under-nutrition, they are experiencing a rapid growth in disease risk factors such as obesity, particularly in urban settings. This combination of problems causes both bifurcation and extra costs for public health policy.

The government of President Enrique Peña Nieto has taken a varied approach to health policy thus far. Although committing to a universal health care system, the necessary resources have not yet been made available, and a wholesale reform of the system remains pending. In isolated areas, such as obesity, the government has sought to use fiscal policy to address the problem, but has failed to adopt a more comprehensive and consolidated strategy.

The Wilson Center’s Mexico Institute is pleased to invite you to our Mexico Public Health Forum 2016 to discuss the current state of public health policy, offering an overview of the health care system and its challenges.

Welcome & Introduction
Duncan Wood
Director, Mexico Institute, Wilson Center

Keynote Address
Pablo Kuri Morales
Mexican Undersecretary of Health Prevention and Promotion

An Overview of Mexico’s Public Health Challenges
Andrew Rudman
Managing Director, ManattJones Global Strategies

Amy Glover
Director – Mexico Practice, McLarty Associates

Catherine Mellor
Executive Director, Global Health Initiative, U.S. Chamber of Commerce

Click to RSVP

UPCOMING EVENT | Mexico Public Health Forum 2016

medicine healthcare - stethoscopeWHEN: Tuesday, September 27, 2016, 2:00-4:00 PM

WHERE: Woodrow Wilson Center, Washington, DC

Click to RSVP

As Mexico’s demographic profile and economy change over time, the country is facing a wide array of new public health challenges, from an ageing population to the rise of non-communicable diseases. In fact, the country now faces a “double burden” of disease: while policy-makers and public health officials continue to deal with the problems of infectious disease and under-nutrition, they are experiencing a rapid growth in disease risk factors such as obesity, particularly in urban settings. This combination of problems causes both bifurcation and extra costs for public health policy.

The government of President Enrique Peña Nieto has taken a varied approach to health policy thus far. Although committing to a universal health care system, the necessary resources have not yet been made available, and a wholesale reform of the system remains pending. In isolated areas, such as obesity, the government has sought to use fiscal policy to address the problem, but has failed to adopt a more comprehensive and consolidated strategy.

The Wilson Center’s Mexico Institute is pleased to invite you to our Mexico Public Health Forum 2016 to discuss the current state of public health policy, offering an overview of the health care system and its challenges.

Welcome & Introduction
Duncan Wood
Director, Mexico Institute, Wilson Center

Keynote Address
Pablo Kuri Morales
Mexican Undersecretary of Health Prevention and Promotion

An Overview of Mexico’s Public Health Challenges
Andrew Rudman
Managing Director, ManattJones Global Strategies

Amy Glover
Director – Mexico Practice, McLarty Associates

Catherine Mellor
Executive Director, Global Health Initiative, U.S. Chamber of Commerce

Click to RSVP

UPCOMING EVENT | Mexico Public Health Forum 2016

medicine healthcare - stethoscopeWHEN: Tuesday, September 27, 2016, 2:00-4:00pm

WHERE: Woodrow Wilson Center, Washington, DC

Click to RSVP.

As Mexico’s demographic profile and economy change over time, the country is facing a wide array of new public health challenges, from an ageing population to the rise of non-communicable diseases. In fact, the country now faces a “double burden” of disease: while policy-makers and public health officials continue to deal with the problems of infectious disease and under-nutrition, they are experiencing a rapid growth in disease risk factors such as obesity, particularly in urban settings. This combination of problems causes both bifurcation and extra costs for public health policy.

The government of President Enrique Peña Nieto has taken a varied approach to health policy thus far. Although committing to a universal health care system, the necessary resources have not yet been made available, and a wholesale reform of the system remains pending. In isolated areas, such as obesity, the government has sought to use fiscal policy to address the problem, but has failed to adopt a more comprehensive and consolidated strategy.

The Wilson Center’s Mexico Institute is pleased to invite you to our Mexico Public Health Forum 2016 to discuss the current state of public health policy, offering an overview of the health care system and its challenges.

Welcome & Introduction
Duncan Wood
Director, Mexico Institute, Wilson Center

Keynote Address
Pablo Kuri Morales
Mexican Undersecretary of Health Prevention and Promotion

An Overview of Mexico’s Public Health Challenges
Andrew Rudman
Managing Director, ManattJones Global Strategies

Amy Glover
Director – Mexico Practice, McLarty Associates

Catherine Mellor
Executive Director, Global Health Initiative, U.S. Chamber of Commerce

Click to RSVP.