IMF Recognizes Mexico’s Debt Management
This week, Bárbara Garza Suess, Country Manager, Buenbit, highlighted that men are approximately 1.3 times more likely than women to own digital currencies: 57 percent of cryptocurrency owners are men, while 43 percent are women. Still, she highlighted the opportunities for financial democratization in digitization. “Blockchain technology promotes equality beyond gender, not only in its financial applications but across the entire spectrum.”
Ready for more? Here’s the Week in Finance!
SMEs Achieving Their Potential
“Most market products focus on facilitating expense management. Our company goes even further and prioritizes transactions that could be considered the core of a company’s operating system,” said José de la Luz López, CEO, delt.ai. The company provides a remote service, tailoring its products to the customer.
Digitalization around the world has accelerated over the past two years. Mexico has 56 million digital banking users, with bank transactions totaling MX$80 billion (US$4 billion) a year. Fintech companies have benefited from this growth by creating greater engagement. “Alongside this digital trend offered by traditional banks are fintech, a sector that is growing in Mexico. In 2021, the industry grew 16 percent, according to a report by Finnovista and Banco Interamericano de Desarrollo (BID),” Chiara Sheldon, Co-Founder & COO, Reworth, explained.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty and financing. The proposed transaction will deliver a substantial cash premium and we believe it is the best path forward for Twitter’s stockholders,” mentioned Bret Taylor, Twitter’s Independent Board Chair, in the official press release.
Mexico’s Minister of Finance Appears in G20 Meeting
The International Monetary Fund (IMF) recognized Mexico’s proper debt management, said Minister of Finance Rogelio Ramírez de la O during the G20 Ministers of Finance Meeting. Mexico raised its interest rates properly before inflation shocks, as the SHCP continues to manage rates. Rogelio Ramírez de la O, Minister of Finance and Public Credit, specified that 35 percent of Latin American countries have suffered rating reductions. Ramirez de la O placed a call on the G20 Ministers of Finance’s Meeting to create a working group to help said countries.
Mexican Economy to Suffer Setback
“The war in Ukraine is convulsing the world economy and raising uncertainty about the prospects for Latin America and the Caribbean. Even before the war, the region's post-pandemic recovery was already running out of steam, and in 2022 growth is back to the pre-pandemic trend rate of around 2.5 percent,” reads IMF’s Economic Outlook for the Americas, April 2022 Report.