International Economics latest publications
After a 13.1% rebound in 2021, this year the economy will grow 2.3% in a context of sustained confidence weakness, withdrawal of economic stimuli and lesser external tailwinds, despite the progress in vaccination and the beginning of operations of new copper mines. For 2023, we expect a 3,0% expansion.
Last month the government announced the intention to stop exporting oil as of 2023 to instead use it in the national refining of gasoline with the aim of achieving "energy autonomy" and stop importing gasoline.
January 3, 2022
Mexico | Does 1 in 5 pesos of remittances come from Mexicans in the construction sector?
In November, remittances to Mexico grew 37.7%. In 2021, the Mexican migrants in the United States grew to 11.9 million, 1 in 5 are employed in the construction sector. Several countries in Latin America and the Caribbean have also reported significant increases in their income from remittances.
December 3, 2021
Climate Objectives in Central Banks’ Funding Operations: how close to Green TLTROs?
Refinancing operations are a core monetary policy tool to provide liquidity for credit institutions. Recently, some central banks, such as the Bank of Japan (BoJ), have started to align their objectives with the goal of a transition to a low-carbon economy, linking its monetary policy to climate change objectives
Last Friday, global financial markets had significant losses after it was announced that Ómicron, the new variant of the coronavirus, can potentially be much more contagious than Delta, the predominant variant.
Agencies’ Ratings have remained relative stable since the start of the COVID pandemic and through 2021. Changes have been mainly concentrated in Emerging Economies. Sovereign spreads have been clearly influenced by the strong and coordinated reaction of Central Banks in both Advanced Economies and Emerging Economies
December 1, 2021
Mexico | Remittances: new all-time high for the fifth time this year, $4,819md in October
Remittances to Mexico have increased 25.6% so far this year. However, this growth is common in the region, the World Bank estimates that remittances to Latin America and the Caribbean will increase 21.6% during 2021.
Information corresponding to 3Q21 indicates that the current account posted a deficit of USD 4.1 billion, whose annualized figure is equal to 1.3% of GDP. For 2021 we forecast that the current account will register a deficit of USD 9.2 billion or 0.7% of GDP.