Mexican FinMin Says 5 Percent Growth Attainable

Rapid growth, a manufacturing boom and key industries opening up to foreign involvement put Mexico in a position to be this decade’s China in terms of investment opportunity.
Even the Federal Reserve’s diminished stimulus program isn’t denting enthusiasm south of the U.S. border.

“The fact that the tapering is happening means that the U.S. economy is recovering, and that’s very good news for Mexico,” which sends 80 percent of its exports to the U.S., Mexican Finance Minister Luis Videgaray told CNBC in an interview.

“We can deal with that challenge as long as U.S. growth is more robust,” he said, citing the Mexican peso’s outperformance relative to other hard-hit emerging market currencies, including those of Turkey, Indonesia and Brazil, as evidence that most investors generally feel the same way.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza