IMF forecast for Mexico

This Tuesday, July 23, the International Monetary Fund (IMF) cut economic growth expectations for the United Mexican States.

I estimate that GDP growth for 2020 will be 1.9 percent while in 2019 it will only be 0.9 percent, lower than what I had predicted last April, which had been 1.6 percent.

The decline is due to the weak investment that Mexico has and that undoubtedly continues due to the fear and mistrust that President Andrés Manuel López Obrador generates for investors due to the policies and indebtedness. Which would cause it to not be able to fulfill its promise of 4 percent growth. It should be noted that in 2018, the Mexican economy had an economic growth record of 2 percent.

Despite the forecasts of specialists from the International Monetary Fund on the matter, President Andrés Manuel López Obrador clings to the fact that Mexico will achieve a growth of 2 percent, assuring that the International Monetary Fund did not have moral authority.

"I do not have much confidence in those organizations that imposed the neoliberal policy that caused many misfortunes in Mexico. All those organizations should apologize to the people of Mexico and make self-criticism", he said.

What moral authority does it have? We are not going to renounce those organizations, we are part of the economic world financial system, but it does not mean that we do not know what their policies have meant, now they are not going to decide on Mexico's agenda”, he mentioned.

The countries with downgrades were Mexico and Brazil.