Mexico Sees Fiscal Gain as Remittances Fall : The Week in Finance

This week in finance news, remittances fell for the seventh consecutive month, a slump not seen since 2009, coinciding with a major decentralized finance security breach that caused Bitcoin and Ether to drop by more than 5%. While Mexico's federal government reported a 28.4% reduction in its fiscal deficit, largely due to successful audits targeting large taxpayers, the OECD warned that the country's new Pension Fund for Well-being lacks long-term stability due to its reliance on temporary and fiscally unsustainable funding sources.

More news below:

Mexico’s Remittances Fall 1.7% in October, Mark Seventh Decline

Remittance inflows to Mexico reached US$5.6 billion in October 2025, a modest annual decline of 1.7%, according to Banxico. Despite a slight monthly increase compared to September, the figure marks the seventh consecutive month of year-over-year contraction, a slump not seen since the 18-month decline that followed the US 2008/2009 recession.

Crypto Falls as Yearn Finance Breach Hits Bitcoin, Ether

The global cryptocurrency market experienced a sharp sell-off, with Bitcoin and Ether dropping more than 5%, following a security breach targeting the decentralized finance (DeFi) platform Yearn Finance. The incident, involving a type of attack that many believed had become less common, reignited investor concerns across the crypto sector.

Mexico Trims Fiscal Deficit 28.4% Amid Economic Cooling

Mexico’s federal government reduced its fiscal deficit by 28.4% through the end of October, according to the SHCP. The improvement comes amid ongoing fiscal consolidation efforts and a slowing economy. In its October Report on Public Finance and Public Debt, the SHCP reported that the Financial Requirements of the Public Sector (RFSP) reached MX$918.7 billion (US$50.29 billion), a 28.4% decline compared to the same period last year.

OECD Warns Mexico’s New Pension Fund Lacks Long-Term Stability

The Organisation for Economic Co-operation and Development (OECD) has raised concerns about the long-term financing of Mexico’s Pension Fund for Well-being (FPB), warning that the program depends on temporary resources that may not be sustainable. 

SAT Surpasses Revenue Target with Big-Taxpayer Audit Collections

Mexico's SAT collected MX$300.47 billion in secondary revenue through audits and enforcement actions targeting large taxpayers in the first nine months of the year, 4.3 times higher than the MX$69.58 billion goal set by the SHCP.