The government continues to save a substantial part of the copper price windfall and the extraordinary tax revenues derived from an economy that continues to expand above trend.
"Alberto Ramos Sesma" was a Mexico/Mexican polo player. He competed in the 1936 Summer Olympics. Born in Zanatepec, Oaxaca, he was part of the Mexican polo team, which won the bronze medal. He played all three matches in the tournament.
More Alberto Ramos on Wikipedia.The country's adherence to fiscal discipline, despite low debt levels, is commendable and reassuring for investors.
Despite the recent pickup, total investment spending in the economy is still lower than the level of 2001 and, as a share of GDP...below the 1997-2000 average.
The two experiences are completely opposed. One is textbook on what to do with a commodities windfall.
This operation removes the stigma of having bonds trading in the market that reminds investors of the debt crisis and moratorium of 1987 followed by the restructuring of the mid 1990s; signaling the beginning of new stage that could eventually lead the credit to investment grade status within a few years.
A backdrop of monetary tightening, high commodity prices, robust productivity growth and buoyant activity will continue to offer support to the peso.
The market is getting ready for re-election to go ahead.
The numbers show that the government is opening the faucets when it should save money or spend more moderately. They may not see a consequence in the short term, but in the medium- to long-term, it makes it harder for the country to lower borrowing costs and reduce debt.
The amount accepted was lower than expected.
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