AMLO says he is leaving “healthy finances” so that the next government can avoid lending to the IMF

MEXICO CITY.- During his usual morning conference this Wednesday, the president of Mexico, Andres Manuel Lopez Obradorassured that he will leave “healthy finances” to the next government that he will lead Claudia Sheinbaum Pardovirtual president-elect of Mexico, so that she does not have to resort to loans from organizations such as the International Monetary Fund (FMI).

“Healthy public finances must be left so that the (virtual) president-elect and then constitutional president has all the power, healthy public finances, because that is very important, not going around borrowing, resorting to the International Monetary Fund or the world Bank “so that they put conditions on us,” said the president.

The Mexican leader stated in his morning press conference that during his administration (2018-2024) the growth of the country’s debt was lower than during the administrations of Felipe Calderón (2006-2012) and Enrique Peña Nieto (2012-2018).

“They increased 7 points on average, between 7 and 7.5 of the gross domestic product, GDP, and we are fighting for it to be 5 or 5.5 (points of the GDP), that is, leaving two points of the product, which is like 600,000 or 700,000 million (Mexican pesos) in reserves for whatever may be needed,” he said.

López Obrador explained that, although he does not believe these reserves are necessary, he must act “cautiously,” especially given the upcoming US elections, which might cause uncertainty for the Mexican economy.

However, he said that he did not foresee economic or financial instability before November, although stability might be broken following the US elections, which is why it was necessary to “protect” the local economy.

“We have a close economic relationship (…) our economy is very integrated with theirs and theirs with ours. Yes, there may be a factor of economic and financial instability and that is why the Mexican economy must be protected and there is no better way than to leave more remittances to those who will manage economic policy,” he emphasized.

You may also like: “Dollar price today, Wednesday, June 19, 2024”

Related news