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Economy

Economy

There is no question that Latin American countries are highly diverse. It is precisely now, in the absence of tailwinds and with very similar external shocks, when we see the difference in the credibility and strength of the macroeconomic political frameworks in the different countries, and their differing capacities to absorb these shocks without unduly affecting their growth.

Since the 2013 education reforms were enacted and included in the Constitution, education has become one of the fundamental priorities for Mexico’s government and society alike.  Reforming the country’s enormous and complex education system will be beneficial for all Mexican institutions and social partners. BBVA Bancomer has been supporting efforts to drive this progress for many years, via its scholarship and education support programs.

Picture of economic growth peru bbva continental

Between 2002 and 2013, the Peruvian economy underwent a stage of fast and strong growth. During this period, the average annual growth rate was 6.1%. As a result, in a relatively short period of time, the per capita purchasing power of Peruvians nearly doubled and poverty declined by approximately 30 percentage points.

BBVA Bancomer’s outstanding loan portfolio is growing at a rate of 13%, meaning that the financial institution is continuing its support and cover of the credit needs of corporate banking, retail banking, and SMEs and consumer finance, thus underpinning economic growth.

Picture of Financial Reform Directors Meeting BBVA Bancomer

Mexico’s commitment to stability and reform is producing positive impacts on employment, improved purchasing power for salaries and domestic demand, which has become the driver of economic growth in Mexico, according to the Finance and Public Credit Secretary, Luis Videgaray.

The trade finance or foreign trade activity accompanies people and businesses in their activity importing/exporting goods and services, mitigating the risks that exist in international commercial relations and simplifying the settlement of operations. The same commercial transaction can require different solutions over time, depending on the moment at which it takes place and the role of the parties involved (importer or exporter).