Mexico City. (.) – The Mexican banks will offer their clients agreements to defer loan payments and interest, as part of various temporary measures to alleviate the economic damage caused by the global contingency of coronavirus, the Ministry of Finance said on Wednesday.
The outbreak, which originated in China at the end of last year, has left more than 19,500 dead worldwide, according to a . count, and in Mexico alone they totaled 405 cases as of Tuesday, in addition to five deaths.
As part of the measures to ensure the proper functioning of the financial markets, today #Hacienda carried out a liability management operation in the local #debt market, with the aim of reducing amortizations this year and, thus, improving liquidity .
– Hacienda (@Hacienda_Mexico)
March 26, 2020
The Mexican Secretary of the Treasury, Arturo Herrera, said on Twitter that “to help people at this juncture with a credit and that they have difficulty paying it, “in addition,” regulatory space will be given to banks to focus their efforts on supporting Mexicans. “
The Treasury specified in a statement that the criteria issued by the commission that governs banks are temporary, while the support may apply to mortgage loans, revolving and non-revolving housing aimed at individuals, consumers and commercial.
To help people with a credit at this juncture and who have difficulty paying it, through @cnbvmx we made 2 decisions. https://t.co/1kEL8AxJkj
– Arturo Herrera Gutiérrez (@ArturoHerrera_G)
March 25, 2020
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“We are calling on banks and the financial sector to maintain the lines of credit that may be needed at the current juncture,” added Herrera. (Report by Frank Jack Daniel, edited by Sharay Angulo)