LatinNews Daily - 17 March 2022

In brief: World Bank warns Mexico must boost productivity

* The World Bank (WB) has stated that Mexico must enact reforms to boost low productivity in the wake of the coronavirus (Covid-19) pandemic. In the report, entitled ‘Productivity Growth in Mexico: Understanding Main Dynamics and Key Drivers’, the WB said the pandemic had compounded pre-existing challenges to productivity growth in Mexico, making the need for structural reforms “more important than ever”. The report suggested reforming policy to reduce the cost of entry into the banking system and expanding financial systems to support young firms and start-ups. It also recommended reducing regulatory barriers and reforming bankruptcy regimes to foster the growth of the country’s most productive firms. The WB also highlighted productivity differences between states in Mexico, suggesting measures to promote regional and local growth. Finally, the report suggested increasing investment in information and communications technology and accelerating digital adoption to foster innovation throughout the country.

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