The two leading presidential candidates, Claudia Sheinbaum and Xochitl Galvezhave said that they are more than ready for this weekend's debate, their teams have been on hand to prepare them, and although in Acapulco, at the last Banking Convention, they were asked interesting questions by the bankers, there are many more in the air.
Therefore, interesting are the questions that clients of all levels and investors have asked themselves and have discussed with the various areas of Citibanamex, who managed to compile relevant topics, which although the candidates will hardly answer, hopefully the campaign and government teams economic area will take a look at the report made by the bank's Economic Studies area.
For example, without mentioning that there was a promise in this six-year term of gasoline at 10 pesos per liter, it would be important to know what will happen to Pemex, it is undoubtedly a problem, but everyone is affected by the increase in the price of gasoline.
One of the questions on the long list, which we hope will have answers before the elections, is that in some of the last years the gasoline tax has been lowered, to prevent the real price of gasoline from rising, and that has meant in certain years a high subsidy, greater, for example, than the entire property tax collected in the country during a year.
So, the question is whoever wins the Presidency, does he consider that this policy should be maintained in the following years? Do taxes seem high or low to you? Is this an appropriate way to use subsidies? What role should gasoline price policy play in climate policy? And in anti-inflationary policy?
And although in this six-year term no emphasis has been placed on the growth of the economy, since it is assured that poverty has been reduced, one of the questions that hopes to be answered is what are the main factors that explain why the growth of Has productivity and GDP per person in Mexico been lower than in most countries in the world in this six-year period, as in recent decades?
The list of questions asked by Citibanamex clients and investors is extensive and, as I said, I hope the teams answer, or perhaps some of them have an answer, because everything indicates that now in May, at the meeting of directors of the largest bank in the country , which is BBVA, the three candidates for the Presidency could be there again and surely economic issues will dominate the agenda. We'll see.
The dispute between Forbes and M.B.G.
It's been months where everything has happened, because after the announcement he made Forbesthat carries Mike Federleto conclude the relationship with Media Business Generators (MGB)a battle began in courts in both Mexico and the United States.
On the one hand, seeking to extend the term of its license, MGB filed legal actions in our country, but this will no longer be possible to use to maintain the license in Mexico and other countries.
And the day before yesterday, in the New York court, Judge Jessica Clarke gave her verdict in favor of Forbessince there were clauses that any problem, the jurisdiction where any conflict should be resolved would be in the United States.
Now the court order in Mexico must be revoked and with this, it is expected that Forbes can fully exercise its rights and resume the path it had announced, that it would seek new partners.
For now, everything indicates that the termination of the licensing agreement with MBG, which officially expired at the end of 2023 and was terminated for justified cause on February 14, 2024 for the editions in Mexico, Colombia, Peru, Chile, Central America and the Republic Dominican, it is confirmed.
MBG, let us remember, has also had its internal fights in the last two years and changes of directors and lawsuits; The most important thing here is what will happen to the sources of employment that depend on publications.
Mexico, battleground for electric cars
We found ourselves months ago in the center of attention of all the automotive companies that produce electric cars in the world, there is the announcement that seems to remain only a great dream of tesla in Monterrey, Elon Musk.
But what is certain is that the growing geopolitical competition around electric vehicles (EV) has put the spotlight on our country, turning us into a new battlefield for the main world powers.
The firm EY is clear about this and they have done several analyzes such as that of Courtney Rickert McCaffrey, Insights leader of the EY Global Geostrategic Business Group, who consider that Chinese companies are the most interested, in addition to the fact that they have diversified their presence in manufacturing towards Mexico to ensure better access to the US market and the European bloc; Of course, with everything that may imply.
If Chinese companies seek to reach the neighboring country via Mexico, the United States will surely intensify scrutiny of electric vehicles and related components that are imported from Mexican territory.
Washington has raised national security concerns about technology used in Chinese electric cars, while Beijing has filed a complaint with the WTO over alleged discriminatory subsidies in the US Inflation Reduction Act.
Financial education at all levels
There are many groups and institutions that, individually and as a team, have worked over the years on financial education issues.
For example, the Association of Banks of Mexico (ABM) in the last two years has invested more than 200 million pesos in financial education initiatives with practical and simple programs, achieving more than 100 million impacts on the population.
This has been reflected in clients learning to use credit better, and today 58 percent of cardholders pay off their balance at the end of the month to avoid paying interest, demonstrating greater knowledge and responsible use of credit.
Also, the Mexican Stock Exchange Museum (MUBO), whose president is Marcos Martínezturns five on April 30, a place where there are classes for everyone, here comes the financial summer, for example.
Without a doubt, good initiatives to continue promoting financial education in Mexico.
For now, the coin is in the air.
