:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/3SUPLDT7L3YS32R4OUTEVPNRI4.jpg "US and Canada were very courteous with AMLO’s rudeness, says former 4T secretary")
For Carlos Urzúa, former Secretary of Finance and Public Credit (SHCP) to Andrés Manuel López Obrador, the governments of the United States and Canada have been courteous to the Mexican president in light of alleged violations of the free agreement. -exchange between the three countries (T-MEC).
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Urzúa, who resigned eight months into the current six-year term due to differences in economic policies and the imposition of inexperienced officials, explained this Wednesday in an interview with LatinUS that the administration of Joe Biden and Justin Trudeau had already measured the rudeness of AMLO and they are already waiting for the end of his mandate.
“I think they’ve already measured it well, the US and Canadian governments know it well, they already know how to deal with it. The truth is that they were very courteous with their rudeness (…) I think they know that the president is like that, they also know that he has little time left in his mandate ”
However, the mathematician from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) pointed out that López Obrador’s actions undermined the opportunity that Mexico has with nearshoring.
Urzúa also highlighted the opportunity that Mexico has, and which has been undermined by President López Obrador, with nearshoring (the strategy with which a company seeks to move part of its production to be closer to its final destination).
“We have a very big window of opportunity with the relocation of companies which could give us a big boost and really lead us to be a first world country, but these reactions from the president are scaring investors, investors as well foreigners in direct investment than portfolio investors.”
On the other hand, Urzúa criticized the federal government’s plan to buy CitiBanamex after the failure of the negotiation to buy Mexican businessman Germán Larrea: “It makes no sense, we have already burned their hands in 1982, when the bank was nationalized.”
During his morning conference on May 24, López Obrador insisted on the possibility of his government acquiring the second bank with the largest portfolio in the country.
President López Obrador’s idea for the government to buy CitiBanamex in alliance with private companies, through a public-private association (app), is seen as “difficult”, according to two of Mexico’s top bankers.
And it is that in an interview with Expansión they argued that this plan would be complicated because no case in the past has worked in this way.
“In Mexico, we have no trace, in the last 20 years, of a bank with this in mind. There has been no experience of having a mixed commercial bank and it would be difficult to determine an operation of these characteristics,” said Daniel Becker, vice president of the Association of Banks of Mexico (ABM) and one of the participants in the tender for the Bank.
The director of Mifel also said that the federal government already has other development banks such as Bancomext and Banobras, but that these have a different objective than commercial banks.
For his part, Raúl Martínez Ostos, vice president of ABM, added that while a private company seeks to maximize its profits, public companies have other objectives.
“It’s good to understand that everyone develops their goals,” he said.
Banamex did not find a direct buyer and now city take the bank to a Initial public offering (IPO)a financial process to publicize and publicize the actions of the institution.
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