Mexico’s Credit Access under Scrutiny: President Sheinbaum Calls for Expansion
NUEVO NAYARIT, Nayarit — President Claudia Sheinbaum has urged both the government and banks to prioritize increased access to credit for Mexican citizens. Speaking at the 88th Banking Convention, sheinbaum highlighted Mexico’s position as a country with comparatively limited credit availability.
Financial Sector Strength, Credit Access Weakness
Sheinbaum emphasized the financial sector in Mexico is solid,
noting the robust profits and high profitability within commercial banking. Though,she also pointed out a critically important challenge: We do have a problem and it is indeed access to the credit of Mexicans.
Did You Know?
Financial intermediation refers to the process by which financial institutions channel funds from savers to borrowers. A deeper level of intermediation can lead to more efficient capital allocation and economic growth.
Global Comparison Reveals Shortcomings
Citing World Bank data, Sheinbaum illustrated Mexico’s position relative to other nations:
- Second lowest credit to non-financial companies.
- Second lowest total credit to the non-financial sector.
- Third lowest credit to households.
She elaborated on these figures,stating:
If we compare ourselves with Japan,with the United States,with Korea,with France—to have a similar economy—or with Brazil,Germany,Italy,Turkey,Peru,Colombia,access to the credit of Mexicans only reaches 33 percent (of GDP).
Sheinbaum stressed the importance of addressing this disparity, asserting that an objective of government and banking has to be the greatest access to credit, if we want there to be not only growth but fundamentally well-being for Mexicans.
Mexico Plan and MSME Focus
During her address, the president reiterated the 18 actions comprising the Mexico Plan, which includes a focus on micro-financing and support for micro, small, and medium enterprises (MSMEs).
Following the convention’s inauguration, Sheinbaum formalized a commitment to this goal by signing an agreement between the Federal Government and the Association of Banks of Mexico (ABM) to promote financing for MSMEs.
Economic Solidity and Optimism
Sheinbaum conveyed a sense of confidence in Mexico’s economic stability, stating that we must all feel very satisfied with the economic solidity
of the country and remain optimistic.
She highlighted the economy’s resilience in the face of international challenges, noting that faced with the international situation we have lived in recent months, the Mexican economy, the financial sector have reacted in an remarkable way.
Key Economic Indicators
Sheinbaum pointed to several positive economic indicators:
- The Mexican economy grew 0.6% at an annual rate during the first quarter of 2025.
- Inflation is controlled, remaining below the Bank of Mexico’s target of 3% +/- 1 percent.
- The minimum wage has increased 125% in real terms since 2018.
- Approximately 800 billion pesos will be allocated to social programs this year.
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Pro Tip
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