LatinNews Daily - 13 April 2026

*International credit ratings agency Fitch Ratings has affirmed Mexico’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable outlook.  In a statement, Fitch said Mexico’s rating is supported by “a prudent macroeconomic policy framework, robust external finances, and its large and diversified economy”. However, it said that constraints remained, including “muted long-term growth, weak governance indicators, fiscal challenges related to a low revenue base and budgetary rigidities, and contingent liabilities from Pemex”, in reference to the heavily indebted state-run oil company Petróleos Mexicanos. The stable outlook reflects Fitch’s expectation that the economy will “avoid severe downward scenarios amid ongoing trade and domestic uncertainties but remain lackluster”. Fitch noted that economic growth slowed to 0.6% in 2025, down from 1.4% in 2024, although still performing better than it had expected against an “adverse backdrop of US protectionism, fiscal adjustment, and domestic institutional reforms weighing on business confidence”. Fitch projects growth will accelerate to 1.7% in 2026, in part due to a boost from the Fifa World Cup, which Mexico is co-hosting alongside the US and Canada. Fitch warns that a firm recovery has yet to take hold and could be hindered by uncertainty around the US-Mexico-Canada Agreement (USMCA), which is due for review this year.

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