Faced with a singular circumstance of excess liquidity in banking and the pressing need to reactivate the economy, could development banking return to the first floor?
Commercial banks today have 1.4 billion pesos to lend to anyone who requests it.
However, the complaint of those who require financing, are the high interest rates of the banks.
This is where supply and demand diverge. The bank has to lend, but the companies do not ask for credits, because they are expensive.
On the other hand, in the second half of the López Obrador presidential term, a major effort is looming to boost economic growth.
The Secretary of the Treasury, Rogelio Ramírez de la O. has anticipated that the government will inject 1 billion pesos in various projects that seek, precisely, to boost the economy.
Beyond some clues and reports, not much is known about this government plan, which is about to be announced.
Of the billion pesos that the government will invest, just over half will be put up by the two most important banks in development banking: Nafin and Bancomext, directed by Luis Antonio Ramírez Pineda.
They have a bag of around 640 billion pesos to finance all kinds of projects.
These two banks have resources that, apparently, the commercial banks are not interested in promoting, because they have a lot of their own resources.
But going back to the imminent government investment plan, the person in charge of public finances has been very cautious and sparing.
However, it has shown that it is preparing an investment package focused on attracting investments that substitute imports from the United States and Canada, from Asia.
It has in its sights what is known as nearshoring. The Covid-19 pandemic and more recently Russia’s invasion of China made it clear to the US and Canada that they need to be closer to their business or technology processes.
For this reason, the Chief Executive has reiterated that it is necessary to advance in the regional integration of North America.
What has transpired from the secret plan of Ramirez de la O is that it will focus on the construction of industrial parks and financial support for Mexican companies that manage to replace and integrate such value chains registered in nearshoring.
And what does all this have to do with development banking and its eventual return to the first floor? Well, it has to do with everything.
For the remainder of the third year and the entire six-year term of the current government, it is necessary to grow the economy, to the greatest possible capacity.
And for this it is necessary to apply all the financing force of commercial banks.
The day before yesterday, the Secretary of the Economy, Tatiana Clouthier, drew attention with statements that seemed very aggressive, when apparently there is a good relationship between the government and the bankers. Clouthier, verbatim, said: “Today, bankers do not dare, they do not gamble, they want to play it safe, it seems that banking is more a space for savings than for credit.”
In the same forum, the Undersecretary of the Treasury, Gabriel Yorio, asked the banks to play a relevant role and not limit themselves to financing only their clients.
Everything indicates that the government has the perception that the bankers are sitting on the bills, when what is required is financing to boost growth.
Although there is no initiative that proposes that development banking return to the first floor, in one of those, someone may think of it.
And it is that if the banks do not lend, they have high interest rates and the development bank has more than 600 billion pesos and much lower interest rates, there will be no shortage of people who think that it is a good time for Nafin and Bancomext, lend directly.
At the time
AMX.- Aeroméxico, piloted by Andrés Conesa, went bankrupt, restructured its debts; achieved a new market value and is about to invest 5 billion dollars in the next three years. All this, without help from the Mexican government.
Rich and Powerful
He has worked continuously in newspapers, magazines, radio, television and the Internet, in the last 31 years he has specialized in business, finance and economics. He is one of the three hosts of the program Alebrijes, Águila o Sol, a program specialized in economic issues that is broadcast on Foro TV.
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