LatinNews Daily Report - 11 April 2013

ECONOMY | Carstens denies peso is overvalued. On 10 April the governor of the Bank of Mexico (Banxico), Agustín Carstens, informed a finance ministry committee (SHCP) that despite some allegations that have been made about the appreciation of the national currency, the peso today is not overvalued. Carstens made it clear that these speculations are faulty and assured the committee that there are no present risks that could affect the country’s economic status. The announcement though caused unrest and a few senators from the opposition Partido Acción Nacional (PAN) questioned Banxico’s statistics, saying that incorrect information could lead to future consequences. Carstens predicts that this year the economy will grow by 3.5-4% and next year by 4-4.2%.

End of preview - This article contains approximately 118 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial