LatinNews Daily - 22 June 2022

In brief: López Obrador warns of impact of US economic crisis

*Mexico’s President Andrés Manuel López Obrador has warned of the impact that a worsening of the economic crisis in the US could have on Mexico. Speaking at a daily press conference, López Obrador attributed his concerns to the fact that many Mexicans live in the US and “the integration we have in terms of economy, and in the case of remittances”. The US Bureau of Economic Analysis (BEA), a government agency, reports that GDP in the US has fallen by 1.5% year-on-year in the first quarter of 2022. President López Obrador added that, although he did not expect a recession in the US, the Mexican and US governments were “looking into ways to help each other”, saying that “much can be done to integrate our economies, to help us with food, with energy, with workers”. López Obrador said that he would discuss options with US President Joe Biden during their meeting in July. Mexico’s central bank (Banxico) reported that remittances to Mexico reached a record high in 2021, totalling US$51.59bn.

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