economy and politics

The ABM dismisses concerns about exchange rate volatility

The ABM dismisses concerns about exchange rate volatility

“Mexico is a very big, very important country that has wonderful things and we should not be scared by a little volatility in the markets,” said Julio Carranza, president of the ABM.

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The bankers highlighted that the exchange rate absorbs internal shocks but this does not mean that it is a negative environment, it is just an environment not contemplated.

“Blackstone, which is one of the most important private equity funds, announced an investment of several billion dollars really seeking to reaffirm its interest in Mexico,” added Raúl Martínez Ostos, vice president of the ABM and general director of Barclays.

About a possible reform that seeks to impose more taxes on bank profits the ABM said that they are not aware of an initiative or document.

“Bank profits are average for the entire economy, so there are no extraordinary profits. Even the president, on more than one occasion, President López Obrador, has commented that bank profits are reasonable profits and that they are profits that reflect that the economy is doing well,” Carranza added.



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