Mexican Economy Increases Dependency of US
The way of development chosen by Mexico increases its dependency of US
now, as told before attendants to the 68th Bank Convention by Agustin
Carstens, sub director of the International Monetary Fund (IMF)
Saturday.
Carstens warned that probably the corrections applied by Washington to
reduce its fiscal and current deficits will generate instability in
international markets.
For Mexico, he pointed out, is important to reinforce the domestic
ability if its economy, for our economy to be ready to face external
challenges.
He also highlighted the urgency to create a more favourable environment
to attract foreign investors to the country
The IMF official observed that the lack of generation of jobs has found
a valve for escape in the migration of Mexican citizens to US, and the
expansion of so-called informal economic activities.
Carstens considered that Mexico has conditions to dedicate a part of the
extra profits obtained by the sale of oil to the reduction of the
external debt, and creation of a fund to be used in times of crisis.
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