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Weekly Report - 28 January 2016 (WR-16-04)

MEXICO: Peso depreciation sparks political debate

The sharp and continued depreciation of the Mexican peso against the US dollar since the start of the year has raised concerns in some quarters of serious negative side effects for the domestic economy. This has led some in the political opposition to criticise the federal government’s handling of the situation and its overall management of the economy. While a rapid loss of value of the peso has in the past been a tell-tale sign of domestic economic weakness and of an imminent crisis, the government led by President Enrique Peña Nieto argues that Mexico’s economic fundamentals remain sound and that current exchange rate movements are not so much a reflection of the country’s domestic economic situation as global economic volatility.

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