Sale of Citibanamex /Security Strategy
Home > Policy & Economy > Article

Sale of Citibanamex /Security Strategy

Photo by:   Presidencia de la República
Share it!
Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Wed, 08/17/2022 - 11:52

Sale of Citibanamex. President López Obrador informed that developments in the sale of Citibanamex are being made and said that there is no ground for the Judicial Power to stop the buy-out of the financial institution. Mexico City’s judge, Felipe Guerrero, suspended the sale process of Banamex until the lawsuit trial for the presumed deviation of US$5.2 billion, promoted by the shipping company Oceanografía is resolved.

Nonetheless, the president said the process will proceed normally and said that Citigroup already agreed to prioritize Mexican investors with proven financial solvency who do not have any tax debt.

Citigroup, one of the largest banking groups in the US, announced that it will close its retail banking and small and medium-sized business operations in Mexico, although it will continue to operate in the country with a local license.

Security Strategy. President López Obrador reiterated that his security strategy will continue despite recent violence incidents in several entities of the country. Moreover, the president said that treating the cause of violence is more important than to enforce coercive government measures.

Last week, drug trafficking groups were responsible for carrying out several violent incidents in Jalisco, Guanajuato, Chihuahua and Baja California. On August 9, the burning of vehicles, clashes and arson were reported in Guanajuato and Jalisco. Later, a deadly confrontation was reported between Los Chapos and Los Mexicles groups in Chihuahua, leaving 11 people dead. On August 12, several municipalities in Baja California suffered acts of violence, where 19 cars were set on fire. Authorities explained that there were 96 hours of violence, which left 12 dead, six injured and 20 detained.

Homicides will decrease. López Obrador pointed out that according to the tendency of homicides in Mexico, by the end of the year, the rate is expected to decrease 15 percent during the period of 2019-2022.

Nevertheless, according to data of the Mexican government, in recent days341 people have been murdered. This represents a daily average of 68 murders in four days when violence peaked from Aug 10 to Aug 14. Moreover, a report of the Secretary of Security and Citizen Protection (SSPC) shows that intentional murders which accounted for 135, occurred in Jalisco, Guadalajara, Chihuahua, Baja California and Michoacan.

 

Click HERE for full transcript in Spanish

Photo by:   Presidencia de la República

You May Like

Most popular

Newsletter