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LatinNews Daily - 12 December 2019
In brief: Uncertainty and insecurity affecting Mexico’s economy
* Mexico’s central bank (Banxico) has issued a new report on the state of the national economy in which it notes that the rise in uncertainty and insecurity has affected the productivity and investment of firms. The report notes that firms interviewed by Banxico stated that extortion is one of the main factors that have affected their operations. This lack of public security has been more prevalent in the southern regions where non-manufacturing businesses reported that extortion rates have reached almost 20%. Further concerns for businesses are continued extortion and the imposition of tariffs on Mexico by the US. However, the recent signing of a revised version of the US-Mexico-Canada Agreement (USMCA) regional trade accord should now help to mitigate some of this uncertainty.
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