AMLO excludes economic instability in Mexico due to bank failures in the United States

president Andres Manuel Lopez Obrador (AMLO) emphasized that “we are calm and stable, There is no factor of economic and financial instabilityThis is after the third US bank bankruptcy so far in 2023, And he stressed before that that the dollar will remain the largest currency in the world.

“We expect the US economy to consolidatebe stronger. The question that arises is that with the epidemic, his deficit has grown a lot, and the indebtedness has increased. It’s happened all over the world, and I’m going to brag, and I’m going to throw oil, except for Mexico,” morning conference This Monday from the National Palace.

Looking at the panorama that exists in the United States, López Obrador argued that “Our currency is strongvery strong, as the weight has not been seen for a long time. Our economy is growingWe’ve grown by more than three percent for three years. And here I emphasize also very important: growth with income distribution.

It also highlighted the attractiveness of Mexico which “A lot of foreign investment is comingThe economy is growing and many jobs are being created.” In addition to celebrating thisThere were no records and such low unemployment has never been seen In Mexico like now. It is one of the countries in the world with the lowest unemployment rates.”

#morning about slowdown #Economy to #United States of America And the diagnosis of a #recession world, lopezobrador_ She made it clear that “we will continue to look into it #dollar as the main currency in the world. @employee @employee pic.twitter.com/EAe832WO5R

– Caroline Gonzlez (@CarolinGonzlez8) May 8, 2023

AMLO expects the dollar to continue to be the most important currency in the world

After the May 1 bankruptcy of First Republic Bank, which joined Signature Bank and Silicon Valley Bank in March, First boss He declared that his management would not take risks and It will continue to take the US dollar as the main benchmark. Well, trust that the currency will recover.

“definitely, We will continue to regard the dollar as the main currency in the world. We have enough reasons not to resort to other currencies. First, the permanent strength of the dollar and We are maintaining that even with a future financial crisisOr the dollar will remain the most important currency in the world,” he said.

In addition to regional trade integration in North AmericaGiven that Mexico has cemented itself as a major trading partner of the United States during the first quarter of the year, López Obrador also argued that the upcoming 2024 elections, When the two countries’ presidencies are renewed, it will help stabilize the dollar.

“Within hours the bank could be decapitalized and within hours they would recapitalize it again. He falls and they catch him, I hope it won’t last, then. This is happening in the US, and fortunately we don’t have that problem, but the fact that they bail them out right away shows they don’t want that to spread.”