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LatinNews Daily - 19 August 2020
In brief: Mexico announces transfer of funds to states
* Mexico’s finance ministry (SHCP) has announced the transfer of resources from the revenue stabilisation fund for federal entities (FEIEF) for the month of August, to further address the impact of the coronavirus (Covid-19) pandemic on indvidual state finances. According to an SHCP press release, states received M$13bn (US$588m) at the start of August, in addition to M$20bn received in July. The SHCP noted that the transfer of funds to states would be done on a monthly rather than quarterly basis, as was previously the case, in order to allow states to create more effective spending plans. FEIEF was activated in 2019 due to a lower-than-budgeted national tax collection, and allows the federal government to support states so that they are assured of a consistent flow of resources.
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