LatinNews Daily - 24 September 2020

In brief: Mexico announces new loan restructuring measures

* Mexico’s finance ministry (SHCP) has unveiled new measures to restructure loans for individuals and firms in order to mitigate the economic impact of the coronavirus (Covid-19) pandemic. The measures will allow borrowers to restructure their credit with lower interest rates, extended payment terms, and lower repayments. Additionally, the SHCP’s package includes regulatory measures to incentivise banks and financial intermediaries to restructure and also grant more loans. The measures will apply to 8.62m recipients of a credit scheme (CCE) implemented in March to facilitate access to loans, as well as new loan applicants. Prior to the announcement, Alejandro Carvajal, a national deputy for the ruling Movimiento Regeneración Nacional (Morena) party, said in a press conference that 7m out of the 24m people with active loans had sought some kind of extension.

End of preview - This article contains approximately 131 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.