Advertisement 1

Mexican banks to offer deferred interest payments, principal on loans - finance minister

Article content

MEXICO CITY — Mexican banks will offer clients deals to defer interest payments and principal on loans, measures meant to ease some of the economic pain inflicted by the coronavirus pandemic, Mexico’s finance minister said on Wednesday.

“Additionally, we are calling on banks and the financial sector to maintain credit lines that may be needed at this current juncture,” Finance Minister Arturo Herrera said on Twitter.

The bank regulator, the CNBV, will give regulatory leeway to banks so they can focus on helping the Mexican people, the finance minister said.

Mexico’s economy, which was already in a mild recession, has been hit hard by the coronavirus outbreak and a steep drop in oil prices. (Reporting by Frank Jack Daniel; Writing by Anthony Esposito; Editing by Peter Cooney)

Article content
Advertisement 2
Advertisement
Article content
Article content
Comments
You must be logged in to join the discussion or read more comments.
Join the Conversation

Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.

This Week in Flyers