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Mexico Headline News
Mexico unveils $4.4 billion in
emergency spending - President
Felipe Calderon is proposing $4.4 billion in emergency spending next year to
boost growth and jobs despite the world financial crisis. Mexico's president says the nation's banks are solid and
haven't slowed lending to companies or individuals. Calderon said in a televised address late Wednesday that the
spending measure "is not a financial rescue package, but focused on
strengthening the motors of our economy." He said the 53 billion pesos ($4.4 billion) would be spent
in 2009 on infrastructure, energy projects, hospitals and schools, among other
things. Mexico's Central Bank moved Wednesday to auction off $2.5 billion in reserves to prop up the peso, which fell to a record low as wary investors sold off Mexican assets. |
Mexico
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