Economic Activity Rebounds in June; SHCP Completes Refinancing

This week in finance: Mexico’s economy is estimated to have expanded 0.2% month-over-month in June, per INEGI. Meanwhile, Mexico’s Ministry of Finance issued a new 10-year, US$388.76 million Udibonos benchmark alongside a complementary US$10.53 billion domestic debt refinancing operation. In other news, the Latin American insurtech ecosystem attracted US$90 million in venture funding in 1H26.

More news below:

Mexico Economic Activity Rebounds 0.2% in June, INEGI Reports

Mexico’s economy is estimated to have expanded 0.2% month-over-month in June, according to the National Institute of Statistics and Geography (INEGI). As part of its estimate, INEGI also revised its data for May, revealing a 0.3% contraction in economic activity. On an annual basis, INEGI’s Timely Indicator of Economic Activity (IOAE) projects a 1.6% expansion for June, marking an acceleration compared with the 1.1% annual growth estimated for May. The preliminary results indicate a slight stabilization in national output, driven by simultaneous 0.2% monthly gains in both industrial and service sectors following volatile performance across 2Q26.

SHCP Completes US$10 Billion Debt Refinancing, Udibono Issuance

Mexico’s Ministry of Finance and Public Credit (SHCP) completed its third syndicated operation of the year in the inflation-indexed yield curve, issuing a new 10-year Udibonos benchmark worth MX$6.76 billion (US$388.76 million) alongside a complementary MX$183.20 billion (US$10.53 billion) domestic debt refinancing operation. The combined operation extended the average maturity of the refinanced debt by 3.64 years while providing MX$4.11 billion (US$236.43 million) in additional liquidity to the new 10-year Udibonos reference. The new benchmark instrument, carrying the emission key S 370423, matures in April 2037, pays a 4% coupon, and offers a yield of 4.60%. Total circulation for the new instrument reached MX$10.88 billion (US$625.19 million).

LatAm Insurtech Sector Attracts US$90 Million in 1H26 Investment

The Latin American insurtech ecosystem attracted US$90 million in venture funding in 1H26, while the number of active companies expanded 14% year-over-year to reach a record 576 firms. According to the 'Latam Insurtech Journey' report developed by Digital Insurance Latam and sponsored by Mapfre, the sector also saw its mortality rate drop to 7%, recording the third-highest first-half funding volume since the Covid-19 pandemic. Mexico consolidated its position as the region’s second-largest market with 150 active startups and a 42% foreign company attraction index, with growth concentrated in mobility and Life & Care solutions. 

Banco Afirme, Monibyte Launch Corporate Visa Card in Mexico

Banco Afirme and financial technology provider Monibyte launched the Monibyte Afirme Visa corporate credit card in Mexico, introducing an integrated digital platform designed to automate corporate expense management and real-time financial tracking for commercial enterprises. The Monibyte Afirme Visa card enables organizations to monitor employee spending in real time, automate the digital capture and validation of tax receipts, link transaction records directly to enterprise accounting systems, and enforce corporate purchasing policies.