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LatinNews Regional Monitor: Mexico - 21 October 2019

In brief: Mexico gov’t counting on USMCA boost

* Mexico’s finance minister, Arturo Herrera, has said that the ratification of the US-Mexico-Canada Agreement (USMCA) on regional trade would help to improve the business climate and promote increased foreign investment in Mexico at a time when these are flagging, and the Mexican economy appears to be stalling. “It will clearly be an incredible stimulus. It would be so in any conditions but particularly in the current ones, where the world is facing [economic] uncertainty”, Herrera said when asked about the USMCA during the International Monetary Fund and World Bank Annual Meetings held in Washington DC from 14-20 October. The USMCA has so far only be ratified by Mexico with the ratification process in Canada and the US having stalled amid Canada’s electoral process and the opposition by some Democrats in the US Congress to the trilateral agreement.

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