Sheinbaum Calls for Broader Access to Responsible Credit

Mexican President Claudia Sheinbaum called for expanding access to responsible credit to support families and SMEs, citing the country’s low credit-to-GDP ratio compared to other major economies in Latin America and globally.

Speaking at Banxico’s centennial celebration, Sheinbaum warned that limited financing constrains productivity, innovation, and equity.

“The task is clear for all of us, including myself as President: we need to expand access to responsible credit that drives SMEs, entrepreneurs, and working families,” she said.

Sheinbaum stressed that credit should be a driver of inclusive development, not a privilege. She cautioned that maintaining low inflation without sufficient credit limits growth potential.

The president highlighted Plan México, which includes measures to increase credit for SMEs. She noted agreements with the private banking sector and initial sessions to promote lending for productive investment, SME growth, domestic consumption, and job creation.

She also urged the financial sector to accelerate digitalization and expand internet access, emphasizing the role of technological innovation in payment systems and banking services to advance inclusion.

“The challenge is ensuring stability and low inflation while boosting growth through responsible financing, higher productivity, and poverty and inequality reduction,” Sheinbaum said, calling on Banxico, the government, development banks, and private banks to work together.