Weekly Report - 7 February 2013 (WR-13-05)

MEXICO | No bailout for indebted authorities. The finance minister, Luis Videgaray Caso, has reiterated that the federal government will maintain its policy of not bailing out state and municipal authorities that have run up large debts due to excessive or irregular spending by governors and mayors. Given that the majority of these are run by politicians representing the Partido Revolucionario Institucional (PRI), there was some speculation that the federal (PRI) government of President Enrique Peña Nieto might be tempted to lend assistance in a way that the previous Partido Acción Nacional (PAN) administration was not.

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