Mexico licensing auction: Too little, too late?

July 15, 2015

07/15/15 Energy Voice

Oil Rig 2 by Flickr user tsuda Photo by Flickr user tsudaMexico may have missed the mark in opening up its energy market to foreign investors as the oil price decline continues to hit, according to a leading expert.

Derek Leith, UK head of oil and gas taxation at EY, said the fall in oil price may be a deciding factor in the historic auction for 14 licenses in the South American country.

Mexico is rebounding from a decade long decline in oil production, with analysts estimating a loss of a million barrels of oil per day.

Now Mexico is looking to US, European and Asian energy firms to bid for 14 blocks in shallow waters in the Gulf region, worth an estimated $17billion.

Read more…


EVENT TOMORROW! Inequality in Mexico

July 6, 2015

social classWHEN: TOMORROW, July 7, 9:00-11:00am

WHERE: 5th Floor Conference Room, Woodrow Wilson Center, Washington, DC

Click here to RSVP.

Mexico’s economic inequality has inhibited the country’s economic growth and slowed the potential of its social and human capital. And extreme inequality has worsened over the last 20 years, with economic elites capturing most of the benefits of growth. The political and economic implications are huge.

Oxfam Mexico recently issued a study on Mexico’s inequality and its policy implications, and the study’s findings will be presented and discussed at this forum on July 7, 9-11am. The study was authored by Gerardo Esquivel, professor and researcher at the Center for Economic Studies in the Colegio de Mexico.

Speakers

Ricardo Fuentes-Nieva
Executive Director, Oxfam Mexico

Marjorie Wood
Senior Associate, Institute for Policy Studies and Managing Editor, Inequality.org

Moderator

Duncan Wood
Director, Mexico Institute, Wilson Center

Click here to RSVP.


UPCOMING EVENT! Inequality in Mexico

July 1, 2015

social classWHEN: Tuesday, July 7, 9:00-11:00am

WHERE: 5th Floor Conference Room, Woodrow Wilson Center, Washington, DC

Click here to RSVP.

Mexico’s economic inequality has inhibited the country’s economic growth and slowed the potential of its social and human capital. And extreme inequality has worsened over the last 20 years, with economic elites capturing most of the benefits of growth. The political and economic implications are huge.

Oxfam Mexico recently issued a study on Mexico’s inequality and its policy implications, and the study’s findings will be presented and discussed at this forum on July 7, 9-11am. The study was authored by Gerardo Esquivel, professor and researcher at the Center for Economic Studies in the Colegio de Mexico.

Speakers

Ricardo Fuentes-Nieva
Executive Director, Oxfam Mexico

Marjorie Wood
Senior Staff Member, Global Economy Project, Institute for Policy Studies

Moderator

Duncan Wood
Director, Mexico Institute, Wilson Center

Click here to RSVP.


New Publication | A Mandate for Mexico

June 29, 2015

By Lucy Conger

mandate for mexicoIt was not so long ago that Mexico teetered on the brink of bankruptcy following a short-lived oil boom and a wild run of government spending. And, until quite recently, Mexico, despite sharing a 2,000-mile border with the United States, kept foreign goods out and gave domestic industries nearly exclusive access to a country-sized captive market.

Free trade has made Mexico a powerful manufacturing platform, a top global automobile assembler, and has radically diversified the economy, sharply reducing dependence on oil exports. The paradigm shift that unfettered Mexico’s protected and closed economy has been highly successful in creating a stable economic and policy environment and in making Mexico a marketfriendly global super-trader. But formidable challenges remain. Economic growth has slowed and consistently falls short of the level needed to create enough jobs to absorb the expanding domestic labor force.

Mexico is at a critical juncture. The record shows that the first wave of reforms that began 30 years ago failed to deliver the desired boost to economic growth and competitiveness. The reforms now underway promise even bigger changes for the economy, particularly by opening up the long closed petroleum industry. Looking ahead, can the new wave of reforms move Mexico into a higher gear, stimulate increases in productivity and economic growth, lubricate the economy with more credit, establish and enforce genuine competition in strategic sectors, and train the work force in modern skills? Or, three decades hence will we look back and say the Peña Nieto reforms were inadequately implemented and Mexico remains a low-growth, low-productivity economy?

This is a timely moment for reviewing Mexico’s success with deep economic reforms and asking what is required from here on in to make the new wave of reforms successful so that Mexico and Mexicans can enjoy the benefits of higher growth and productivity. This study offers a qualitative analysis of the deep economic reforms undertaken in Mexico during the past 30 years, the progress made and informed opinions on what is needed today to boost economic growth, enhance competitiveness and, hopefully, increase employment. The study summarizes the views about the successes and failures of the first wave of reforms as seen by a select group of former cabinet members and other prominent policy makers, consultants to government, opinion shapers in policy centers, and thought leaders in academia.

Download the report here.


EVENT THIS AFTERNOON: NAFTA & the Strengthening of the Mexican Economy

June 29, 2015

120px-North_America_(orthographic_projection).svgWHEN: TODAY, June 29, 2:00-3:30pm

WHERE: 5th Floor Conference Room, Woodrow Wilson Center

Click here to RSVP.

A live webcast will be available here.

Two decades ago, Canada, Mexico, and the United States created a continental economy. Since the signing of the North American Free Trade Agreement, Mexico has lived through a currency crisis, a democratic transition, and the rising challenge of Asian manufacturing. Many of the dynamics of North America today, from Mexico’s reform agenda to continental concerns about competitiveness, have their roots in the conditions that produced NAFTA, in the agreement itself, and in the tremendous transformations it wrought. Looking back at that period provides context for understanding today’s reforms. Today, Mexico’s competitiveness agenda, championed by President Enrique Peña Nieto and widely supported by the Mexican Congress, includes specific actions oriented toward promoting larger inflows of foreign investment by opening strategic economic sectors to private participation. This package of reforms would bring a sweeping transformation of the economy.

The Woodrow Wilson Center’s Mexico Institute is pleased to invite you to an event on NAFTA and the Mexican economy. Jaime Serra Puche will present his book NAFTA and the Building of a Region. An Essay from the Mexican Perspective and Lucy Conger will present her paper on Mexican competitiveness, A Mandate for Mexico. Ambassador Carla A. Hills will provide commentary on both publications, in relation to the broader subjects of NAFTA and the Mexican economy.

Speakers

Jaime Serra Puche
Chairman, SAI Law and Economics

Ambassador Carla A. Hills
Chair and CEO, Hills & Company, International Consultants

Lucy Conger
Independent Journalist

Moderator

Duncan Wood
Director, Mexico Institute, Wilson Center


Upcoming Event! NAFTA and the Strengthening of the Mexican Economy

June 23, 2015

NAFTAWHEN: Monday, June 29, 2:00-3:30pm

WHERE: 5th Floor Conference Room, Woodrow Wilson Center, Washington, DC

Click here to RSVP. 

Two decades ago, Canada, Mexico, and the United States created a continental economy. Since the signing of the North American Free Trade Agreement, Mexico has lived through a currency crisis, a democratic transition, and the rising challenge of Asian manufacturing. Many of the dynamics of North America today, from Mexico’s reform agenda to continental concerns about competitiveness, have their roots in the conditions that produced NAFTA, in the agreement itself, and in the tremendous transformations it wrought. Looking back at that period provides context for understanding today’s reforms. Today, Mexico’s competitiveness agenda, championed by President Enrique Peña Nieto and widely supported by the Mexican Congress, includes specific actions oriented toward promoting larger inflows of foreign investment by opening strategic economic sectors to private participation. This package of reforms would bring a sweeping transformation of the economy.

The Woodrow Wilson Center’s Mexico Institute is pleased to invite you to an event on NAFTA and the Mexican economy. Jaime Serra Puche will present his book NAFTA and the Building of a Region. An Essay from the Mexican Perspective and Lucy Conger will present her paper on Mexican competitiveness, A Mandate for Mexico. Ambassador Carla A. Hills will provide commentary on both publications, in relation to the broader subjects of NAFTA and the Mexican economy.

Speakers

Jaime Serra Puche
Chairman, SAI Law and Economics

Ambassador Carla A. Hills
Chair and CEO, Hills & Company, International Consultants

Lucy Conger
Independent Journalist

Moderator

Duncan Wood
Director, Mexico Institute, Wilson Center

Click here to RSVP. There will be a live webcast of this event.


Mexico Economic Growth “Moderates”

June 15, 2015

06/15/15 Latin American Herald Tribune

taxes accounting businessMEXICO CITY — Mexico’s central bank published its quarterly report on economic performance, showing that economic growth moderated in all four regions of the country in the first quarter of 2015 and that the perspectives of business executives regarding economic prospects were, in general, less upbeat than on
the previous report.

The report stated that “twelve-month expectations of most business managers point towards an expansion in the demand of goods and services in every region of the country, but this expansion signal is weaker than on the previous report.”

Read more…


Follow

Get every new post delivered to your Inbox.

Join 12,332 other followers

%d bloggers like this: