| | |  Business News | November 2008 
"Mexican Markets Stable," Declares Carstens
 Presidencia de la República
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| | Mexico's Secretary of Finance and Public Credit Agustin Carstens begins a meeting of the World Bank-IMF Development Committee, which he chairs, at World Bank headquarters in Washington, Sunday, Oct. 12, 2008. (AP/J. Scott Applewhite) | | |
Mexico City - Finance Secretary Agustín Carstens declared that financial markets in Mexico are operating normally, due to the economy’s solid basis, following the death of Interior Secretary Juan Camilo Mouriño in an air crash.
In a television interview, Carstens urged markets not to lose their perspective on this unfortunate accident, particularly in view of Communications and Transport Secretary Luis Téllez’s remark that “There is no evidence to suggest that it was not an accident."
Carstens added that the measures adopted by the Bank of Mexico and the Finance Secretariat to ensure the markets' liquidity have been successful, and guaranteed that government will continue to follow the markets' development closely.
The Finance Secretary said that Barack Obama’s triumph in the U.S. presidential elections is a factor that has influenced all markets since yesterday and will enable the government of that country to respond to the current crisis in a timely, appropriate fashion.
Carstens added that the results of the U.S. elections will have a positive impact on the growth of the world economy, due to the degree of support enjoyed by the president elect, which will make markets think that the appropriate measures were taken.
“A president elect –Barack Obama- with an enormous degree of support, makes markets think that appropriate measures will be taken and if the epicenter of this crisis improves, it should improve in the rest of the world; this favorable background will continue to help us and I think that this is a time of caution when matters should be taken calmly.
Carstens declared that the U.S. government is powerful and may accelerate the process of solving the financial crisis. "I would expect an extra fiscal package, a contra-cyclical package that will help improve economic activity." |
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