Banks Under Pressure; Investors Hold Steady

All ratings from Intercam Banco, CIBanco, and Vector Casa de Bolsa have been placed under Negative Watch, reflecting concerns over deteriorating credit profiles following recent money laundering allegations. Meanwhile, Spanish companies have reaffirmed their confidence in Mexico, contributing MX$70.4 billion in foreign direct investment (FDI) during 1Q25.

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Fitch Downgrades Intercam, CIBanco, and Vector Casa de Bolsa

Fitch Ratings has downgraded the credit ratings of Intercam Banco, CIBanco, and Vector Casa de Bolsa, following recent accusations by the US Department of the Treasury alleging the institutions were involved in money laundering activities tied to fentanyl trafficking. These allegations were followed by a temporary intervention by Mexico’s National Banking and Securities Commission (CNBV) into the operations of all three entities.

Mexico Becomes Key Hub for Spanish Companies, 88% See Potential

Spanish companies continue to show firm commitment to Mexico, with three out of four seeing growth opportunities and 88% considering the country a strategic market, according to the second edition of the Barometer on the Climate and Outlook of Spanish Investment in Mexico. 

Sheinbaum Announces MX$12 Billion Investment in Colima

President Claudia Sheinbaum announced an investment of MX$12 billion (US$636.7 million) for Colima over the next two years, targeting priority projects in health, infrastructure, education, water supply, and social programs. During a tour of the state, President Sheinbaum specified that MX$5 billion of the total budget is designated for the government's Well-Being Programs.

Foreign Investment Surges, But Not in Every State

Despite initial uncertainty at the beginning of 2025 due to US trade policy, new foreign direct investment (FDI) in Mexico gained momentum during the first quarter of the year. However, this increase in FDI was not evenly distributed across the country’s states.

Canada Cancels Digital Services Tax to Revive US Trade Talks

Canada has canceled its planned digital services tax on US tech companies just hours before it was set to take effect on June 30, aiming to revive stalled trade negotiations with the United States.

China, United States Confirm Deal and Ease Trade Restrictions

China and the United States have reached a new trade arrangement, noting that Washington will withdraw several "restrictive measures" while Beijing has committed to "review and approve" products currently regulated under export controls.