MEXICO CITY, (EFE) .- The Japanese agency rating and research information (R&I) reaffirmed on Wednesday the sovereign risk rating of Mexico in ‘BBB+’, with a stable perspective, considering that the economic foundations remain solid, despite the risks for the commercial policy of the United States.
In his report, R&I warned that the Mexican economy could slow down in 2025 after growing 1.5 % in 2024 due to the imposition of tariffs of the president of the United States, Donald Trump, the fall in private investment and a lower dynamism in external consumption.
However, he considered a drastic disruption in the integration of supply chains with the EU by the treaty between Mexico, the United States and Canada (TMEC).
“R & I considers that it is unlikely that the economic foundations of Mexico are undermined. This is because Mexico has cemented its economy as a manufacturing and export base for EU, driven by the TMEC,” said the qualifier.
He also stressed that the current account deficit is reduced, favored by an increase in manufacturing exports and the flow of remittances, main foreign exchange income of the country.
In the Japanese agency’s perspective, external debt remains at decreasing levels, around 30% of GDP, and international reserves are sufficient to cover short -term payments.
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In addition, he stressed that Mexico maintains access to the flexible credit of the International Monetary Fund (IMF), which limits the risks of liquidity in foreign currency.
In the fiscal scope, R&I said that, although the deficit was extended to 5.7% of GDP in 2024 for spending on pensions, social transfers and infrastructure, the government of Claudia Sheinbaum has expressed a commitment to fiscal discipline.
The goal of the Mexican government by 2025 is to reduce the 3.9% of GDP deficit, prioritizing social spending and investment.
The qualifier also stressed that there are no pressure signs in the internal financing of the government, since most of the public debt is in the hands of local institutional investors and the external component is reduced.
R&I concluded that, although risks arising from the relationship with the United States persist, the president’s priority will be to consolidate the economic foundations and respond to commercial challenges with a public-private investment program, within the framework of the ‘Plan Mexico’.
“In R&I opinion, there is no element of external particular concern or associated with the financial system,” he said.
The Ministry of Finance argued that the stable perspective implies that there would be no changes in the qualification during the next 12 to 18 months, which will allow the country to “continue accessing in favorable conditions to national and international financial markets.”
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