Mexico moves to defend financial system against future crisis

16:28, August 12, 2010      

Email | Print | Subscribe | Comments | Forum 

Mexico's Finance Ministry inaugurated a council Wednesday to protect the country's financial system from future economic crises.

A technical committee at the Stability Council headed by Deputy Finance Minister Alejandro Werner would study the vulnerability of the financial system under different scenarios, the ministry said in a statement.

The purpose of the council was to identify debt levels in both private and public institutions, which could lead to or intensify a crisis, and to monitor the prices of stocks, bonds and other assets to prevent any possible financial crisis, it said.

Mexico is still recovering from a deep recession spread from the United States, which triggered an economic decline of 10.3 percent at its worst point during the second quarter.

"Mexico did not face systemic problems in its financial sector, but the decision was made to create a preventive body and defend the financial system," the statement said.

The technical committee also includes representatives of the National Commission for Insurance and Deposits, the Retirement Savings Systems Commission, and the Bank Savings Protection Agency.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion