LatinNews Daily - 09 December 2021

* Mexico’s central bank (Banxico) has reported that the country’s financial system, and in particular its banking sector, is solid and resilient almost two years on from the start of the coronavirus (Covid-19) pandemic. In a recent report on financial stability, Banxico also noted that Mexico’s economic recovery from the pandemic will continue in 2022, but at a more “moderate” rate and with “a certain degree of uncertainty”. The report added that the granting of loans has not recovered in line with economic activity, indicating ongoing caution on the part of those supplying and receiving loans. It noted that risks include a tightening of global financial conditions, the potential for a less robust global economic recovery, a prolonged and more pronounced weakness in domestic consumption and investment, and possible increases in sovereign risk premiums, as well as those of state-owned oil company Pemex.