Friday, March 24, 2017

AZMEX SPECIAL Convención Bancaria 23-7-17

AZMEX SPECIAL Convención Bancaria 23 MAR 2017

Comment: " liberalismo contra el populismo."
For "Policy Wonks" and "Populists" mostly.
It is anticipated that pitchforks and torches will be added to the UN Small Arms Treaty.

Long, most computer translations.

Also: Interview with Luis Videgaray ( in English );_ylt=A0SO8yumQNRYgi8A7SZXNyoA;_ylu=X3oDMTEyODJmMTJzBGNvbG8DZ3ExBHBvcwMxBHZ0aWQDQjM2MjZfMQRzZWMDc2M-


Peña Nieto inaugurates the 80th Banking Convention in Acapulco

• Wednesday, March 22, 2017


With information from Carlos Lara / Envoy

ACAPULCO .- President Enrique Peña Nieto inaugurates the work of the 80th Banking Convention in Acapulco, Guerrero, where the global dilemma will be analyzed: liberalism against populism.
With this event, it will be reiterated that Mexico has maintained its economic growth despite international adversities.
It is the last convention with Luis Robles Miaja as President of the ABM and for that reason the President recognized Miaja for being an enthusiastic promoter of advances achieved as a country.

"He is widely recognized because he has had courage, with great clarity in the face of the challenges, advances, risks and threats we face," he said.
Prior to the message of Peña Nieto, the Convention handed the honorific gavel to Agustín Carstens, president of the Bank of Mexico. "Their performance will be remembered as an important piece of macroeconomic stability in the country," said the President.

The Convention is organized by the Association of Banks of Mexico (ABM) and takes place from 22 to 24 March, in the port of Guerrero.
The event that will leave Acapulco an economic boost of 4.5 million pesos, according to expectations of the same government authorities,
takes place in an area in the Acapulco Diamante area.

You can also read: It's a good time to acquire mortgages, says the ABM

What is the Mexican Banks Association?
The Bank of Mexico Association (ABM) was founded on November 12, 1928, to represent the general interests of the Bank of the country. It was created with the participation of 26 banks.
Currently, it has 49 multiple banking institutions in the country as partners. It has collaborated with its partners in the achievement of its objectives and in the activities of providing the banking, credit and modernization of the payment system.

It has played a fundamental role in the relations of credit institutions with each other, with the Government of Mexico, with non-bank financial intermediaries, with other representative bodies and with international institutions.

Also read: Analyze liberalism and populism in the Banking Convention

It will be until Friday, March 24th that the area of ​​Punta Diamante will remain under a great security shield, due to the attendance of the financial leaders.
Undoubtedly, the National Banking Convention also gives an important economic boost to the port, a great media impact, and will increase the good reputation of Acapulco as a beach destination for the realization of transcendent events.


Analyze liberalism and populism in the Banking Convention
• EFE Agency
• Wednesday, March 22, 2017
• in Finance

ACAPULCO, Calif. - Today, the Mexican banking sector will begin its 80th annual meeting, a three-day meeting that will bring together important figures who will discuss the current complex economic environment and the dialectic between liberalism and populism.

The plenary and opening session of this 80th Banking Convention of the Association of Banks of Mexico (ABM) will take place this afternoon, and will have the presence and inaugural message of President Enrique Peña Nieto.

Also participating in the event are the
Secretary of Finance and Public Credit (SHCP), José Antonio Meade;
The governor of the Bank of Mexico (Banxico), Agustín Carstens;
The president of the Association of Banks of Mexico (ABM), Luis Robles Miaja,
and the president of the National Banking and Securities Commission (CNBV), Jaime González Aguadé.

On the second day, the program offers a series of interesting papers to delve into the issues on which this convention, named "The Global Dilemma: Liberalism vs Populism", will be based this year.
As this title suggests, a good deal of the debates and conferences will revolve around the advent of populism in politics, which counts among its top representatives with President Donald Trump, which has led to the relationship between the United States and Mexico to its worst moment in decades.

Mexico's Foreign Minister, Luis Videgaray, will give a lecture, as well as US economist Larry Summers, who was president of Harvard University (2001-2006) and US Treasury Secretary (1999-2001), and will give a macro view Of the current economic landscape.

President of the United States Council on Foreign Relations, Richard N. Haass, is scheduled to give a conference, as well as a panel discussion with former US, Canada and Mexico Trade representatives.

Acapulco will host
The three countries share the North American Free Trade Agreement (NAFTA), in the process of being renegotiated because the US president considers that it harms the industry, trade and employment of his nation for the benefit of Mexico.

On the last day of the convention, Venezuelan economist Ricardo Hausmann, current director of the Center for International Development at Harvard, will give the talk "Implications of populism", and then Professor of Economics and Public Policy Harvard Kenneth Rogoff will offer the paper " Productivity: The Big Challenge ".

The highlight of the day comes to former General Colin Powell, who was Secretary of State between 2001 and 2005 during the George W. Bush Administration.

In the closing ceremony will assume as new president of the ABM Marcos Martínez Gavica for the period 2017-18.

The chairman of the Board of Directors of Grupo Financiero Santander in Mexico will replace Luis Robles Miaja in charge of this association since 2014 and chairman of the Board of Directors at BBVA Bacomer.

After a few words from the new president, the message and the declaration of closure will be the responsibility of the undersecretary of Finance and Public Credit (SHCP), Vanessa Rubio.

Founded in 1928, ABM currently has 51 associate banking institutions in the country and its purpose is to represent the general interests of the sector.

It plays a fundamental role in the framework of the relations of credit institutions with each other and with the Mexican Government, non-bank financial intermediaries, other representative bodies and international institutions.


Strong Institutions, 'antidote' against populism: Carstens
Roberto González Amador and Israel Rodríguez J., envoys | Thursday, 23 Mar 2017 11:12


Acapulco, Gro. The "best antidote" to contain populist intentions is to build strong institutions with clear mandates and accountability, said Agustín Carstens Carstens, governor of the Bank of Mexico (BdeM), on Thursday.

"The best antidote to populism is precisely that there are strong institutions. The Bank of Mexico is a strong institution and, in that sense, is an example for many other instances that could increase the depth of the facilities, "said Carstens to the press as part of the second day of work of the 80th Banking Convention.

The bankers' annual meeting kicked off Wednesday with a coincidental speech between officials - including President Enrique Peña Nieto - and the Mexican Banking Association (ABM) against what they called "an advance of populism that puts values ​​at risk Which defends liberalism. " President Peña said: "By populism I mean the dogmatic positions that postulate seemingly easy solutions, but that actually close spaces to the citizens."

On Thursday, prior to the start of a convention session on "The Global Dilemma: Liberalism versus Populism," Carstens told reporters that "institutions with clear mandates, with accountability, help the country's governance And at the end of the day, actions do not depend so much on people but on the institutions themselves. "

Inflation is more or less at the expected pace

The governor of the Bank of Mexico commented that inflation is "more or less than expected, still are seen some remnants of increases in prices of gasoline and other energy" at the beginning of the year.

This Thursday, the National Institute of Statistics and Geography reported that in the first half of March inflation was 0.35 percent. While, in annual terms, it was 5.29 percent, the highest in eight years.

"As the Bank of Mexico has anticipated, we will see levels above our upper bound for a few more months and later, towards the end of this year, annual inflation will drop," Carstens said.

The central bank has a permanent inflation target of 3 percent annually, with an interval of plus or minus 1 percentage point.

Yesterday, during the inauguration of the Banking Convention, Carstens considered that the recent appreciation of the peso in its quotation against the dollar will contribute to reduce inflation.

"What is important is that it should be noted that the inflation variation was 0.35 percent in the first half of March, much more in line with what we have normally seen. The arithmetic effect of January, the increase in gasoline, is what gives us these high annual readings, "added Carstens Thursday.

"What I would expect is that this bubble in inflation will dissipate by the end of this year," he added.


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