Attendees at the Banking Convention mention that the decrease in interest rates cannot be decreed, as this indicator responds to various factors and each bank has different parameters. One of the aspects that increases the cost of credit is the insurance against default or non-payment, so the Government is asked to guarantee a coverage fund that facilitates the allocation of credits.
In a recent speech, the governor of the Bank of Mexico, Alejandro Díaz de León Carranza, ruled out the possibility of an economic recession and anticipated a slight recovery by the end of the year. Consulting executives agree that the Government prioritizes maintaining its support programs for small and medium-sized enterprises, although reviving the debate about Fobaproa does not favor the relationship between banks and the State.
It is estimated that if the Government provided a coverage fund, the impact of its support programs for small and medium-sized enterprises would be greater and would have faster effects on the economy. Despite the fact that this Thursday, the head of government of Mexico City, Claudia Sheinbaum, will sign an agreement with banks to promote support for micro, small, and medium-sized enterprises, financial entities believe that with a coverage fund, there would be greater scope to expand credit and reduce its cost.
Although Sheinbaum previously announced her intention to persuade banks to lower interest rates, especially to support small businesses and reactivate the economy, this proposal has faced resistance. However, an agreement has been reached regarding support for Mipymes, which will be announced during the inauguration of the 88th Banking Convention in Nayarit.
