Before heading off to Guadalajara for talks today with his two "amigos" from Canada and Mexico, US president Barack Obama blamed the weakened states of their economies as the reason for his promised reworking of the North American Free Trade Agreement being taken off the table. Full Story »
Posted by Kaizar Campwala - via NewsRack (Recession), NewsRack (Energy)
Claudio Loser, former head of the IMF’s western hemisphere department and now a visiting senior fellow at the Washington-based Inter-American Dialogue, is so downbeat about the Mexican economy that he criticises last week’s decision by Moody’s, the rating agency, not to downgrade the country from its current Baa1 investment-grade status. “The economy has serious problems, and these are now not reflected in the current rating,” says Mr Loser.
