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Weekly Roundups

Mexico Reports Slow GDP Growth: The Week in Finance

By Emilio Aristegui | Thu, 08/04/2022 - 10:00

Mexico reports slow GDP growth as it recovers from the COVID-19 pandemic. The Mexican Gross Domestic Product (GDP) grew by 1 percent during the second quarter of 2022, reports the Ministry of Finance and Public Credit’s (SHCP).

Ready? This is the week in finance!

Mexico’s GDP Grew by 1 Percent in 2Q22

The SHCP announced via its Economic Situation, Public Finances and Debt report that Mexico’s GDP grew 2 percent during the first half of 2022. The International Monetary Fund (IMF) also revised the country’s predicted growth and raised it from 2 percent to 2.4 percent.

The Future of CFOs

Daniel Echeverri Restrepo, CFO, Renault Mexico, explained that the role of CFOs will change drastically in the future with the evolution of new technologies.

“In the far future, and that could be from years to decades, depending on the technological and digitalization level of a company, the way data flows and how the CFO manages it will be only a fraction of the challenges to pursue. New technologies will create new businesses and opportunities related to the financial functions,” said Echeverri.

Truora will Participate in Start Path

Troura integrated an easy-to-use platform that includes a “no-code” flow builder and partnered with Mastercard to build its know your customer (KYC) platform. The company will join other influential companies already involved in Mastercard’s Start Path program, including Carbon Neutral Club, Guava, oneKIN, Inc, Palla Financial, Suma Wealth and Yunit.

“In Truora, we feel completely aligned to the ideals of the [Start Path] initiative, believing in the value that building a network entitles, especially in the startup ecosystem where collaboration is paramount. That is why being part of Mastercard´s startup engagement program is so important for us, we are convinced that accessing their global network can help us become a strategic ally to companies interested in innovation and digital transformation processes, especially those in the financial sector,” said Daniel Bilbao, Co-Founder and CEO, Truora Inc, to MBN.

Credit Market Possesses Several Opportunities

Mexico’s working class is not receiving adequate products and services, said Stefan Moller, Co-Founder and CEO, Klar. The company seeks to expand an untapped credit market to benefit middle and lower classes.

New York Stock Exchange Welcomes FiscalNote

FiscalNote is now officially a public company after completing a business combination with Duddell Street Acquisition Corporation. The Class A common stock and warrants began trading on Monday, Aug. 1, 2022.

“We remain focused on strengthening our ability to execute on near and long-term organic and inorganic growth opportunities, with a special emphasis on the rapidly-expanding market of regulated industries of the future. Our success will be guided by mission, purpose and continued innovation, while the essential nature of what FiscalNote offers will remain steadfastly durable and essential in a world where change and uncertainty are the only constant,” said Tim Hwang, Co-Founder, Chairman and CEO, FiscalNote.

The data used in this article was sourced from:  
Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst