LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

January 16, 2024

Why Are the U.S. & Mexico Intensifying Financial Scrutiny?

U.S. Treasury Secretary Janet Yellen and Mexican Finance Minister Rogelio Ramírez de la O met last month in Mexico City to discuss closer cooperation on screening investments. // Photo: @SecYellen via X.

Q

A

Raúl Benítez Manaut, professor at the National Autonomous University of Mexico (UNAM): “U.S. Treasury Secretary Janet Yellen’s visit with Mexican Finance Minister Rogelio Ramírez de la O was due to an intense flow of capital that is entering Mexico. The Mexican peso has strengthened against the U.S. dollar. At the beginning of 2022, the peso was worth 22 to the dollar. In December 2023, it was worth 17 pesos to the dollar. More dollars are entering Mexico than leaving it, and there is a growing U.S. national security concern. Heavy investments are being made from China, for example, in the construction of the Mayan Train, in the automobile sector and in mining companies, such as ones that produce lithium. The United States is concerned about…”

Top News

Argentina, Banks Reportedly Discuss Debt Swap
Argentine Economy Minister Luis Caputo and bank representatives reportedly held a discussion with the government about a potential debt swap.
Colombian Insurance Group Objects to New Gov’t Policies
ACEMI, a Colombian health insurance industry group, warned that new government policies are slashing revenues and threatening insurers’ financial survival.
Scotiabank May Exit Colombia, Central America
Bank of Nova Scotia’s chief executive officer, Scott Thomson, said the bank will focus on its home market of Canada as well as Mexico and the Caribbean and may exit its operations in Colombia and Central America. // File Photo: Bank of Nova Scotia.

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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