Mexico City. Mexico’s economic integration with the United States and Canada is one of its main defenses against external threats and those of its own politicians, said the investment firm Franklin Templeton of Mexico.
“Without minimizing what is happening in Mexican politics, Mexico has a very clear foundation, which is economic and commercial integration, its geographic position, and the fact that the trade war with the United States is elsewhere (China),” said Jorge Marmolejo, investment strategist and vice president of portfolio manager at Franklin Templeton Mexico.
However, Marmolejo predicts that Mexico runs the risk of suffering a decrease in its credit rating in the middle of Claudia Sheinbaum Pardo’s administration, if there is no correction in the country’s governance, or at least if economic growth does not improve or the fiscal deficit is not reduced as promised by the future government.
During the webinar: “September Perspectives on Mexico and the World. One Hundred Days of Suspense,” the Vice President of Portfolio Manager at Franklin Templeton Mexico assured that Mexico is the only country that has increased exports to the United States compared to the rest of the world, despite the reforms and what will continue to happen in the country.
“We are geographically located in a strategic position; we have signed 13 international treaties with around 50 countries; we are the tenth most populated country in the world, the twelfth largest economy in the world, we are fully integrated with the United States and Canada, the main economies of the world. In addition, the trade war between the United States and China will not stop because Mexico makes destructive reforms. In short, this protects us from threats,” Marmolejo assures.
On the other hand, although Mexico is trading at rates as if it had already had a credit rating downgrade, international investors are confident that not everything is bad in Mexico, since the exchange rate is trading at around 19.80 pesos per dollar.
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– 2024-09-23 18:26:58
