Overturning old conceptions related to the banking system, such as supposed access for few people, requires social and economic construction accompanied by well-articulated public policies and State intervention.
The crises of 1982, 1995 and 2008 left wounds from which it was not easy to recover. The nationalization of the banks marked a milestone in state intervention, but it also raised doubts about the stability of economic policies. The “December error” exposed banking vulnerability to the excessive liberalization of the financial market, with a Fobaproa of deep citizen distrust. In 2008, the financial system showed weaknesses, especially in terms of confidence and access to credit.
These episodes share a common denominator: a disconnection between the financial policies of governments and the needs of the population, especially those sectors without access to the banking system.
Under the presidency of Andrés Manuel López Obrador, an approach characterized by fiscal discipline, austerity and the fight against corruption was adopted, recognized in its results by the president of the Association of Banks of Mexico, Julio Carranza, who learned last week of the capabilities C5 operations through lines 911, 089 and the newly created anti-extortion line, 55 5036 3301.
President Claudia Sheinbaum, with the programmatic precision that characterizes her, has deepened 1) debt control; 2) exchange rate stability; and 3) the containment of inflation, central elements of greater confidence in the economic direction.
This environment of certainty is reflected in an almost three-fold growth in bank credit to the private sector in the last ten years or in the fact that 66 percent of the acquisitions of durable consumer goods are through that means, without the which would not be possible for the middle class dream: a house or a car.
From Mexico City, the Head of Government, Clara Brugada, accompanies this programmatic vision with the promotion of financial cooperatives and the development of a care system. Its approach not only seeks to include more people in the banking system, it also recognizes and supports those who cannot access it, especially women. A vision of building the economy from below
Furthermore, at the national level the economic impact of cooperatives generates 354 billion pesos per year, of which 14 billion are from cooperative societies and the rest from social economy companies. In the national capital, approximately 1.5 percent of the employed population works in cooperatives.
Confidence in the banking system has taken a positive turn. The idea of exclusivity for a few falls behind a model that combines stability, inclusion and a vision of the future.
Contact:
Salvador Guerrero Chiprés is General Coordinator of the Command, Control, Computing, Communications and Citizen Contact Center (C5) of Mexico City.
www.c5.cdmx.gob.mx
Twitter: @C5_CDMX
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.
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