It is not price control: AMLO

President Andrés Manuel López Obrador removed the valve from the pressure cooker that had been brewing out of concern for an eventual price control.

It is not price control, he said emphatically, informing that his government will present an anti-inflationary plan on May 4.

Guarantee prices will be established with the aim of achieving fair prices for a basic food basket.

He revealed that the government works with producers, distributors and large commercial chains to face the shortage.

Guarantee prices will be established for 24 basic products; fair prices will be guaranteed in: corn, beans, rice, milk, among others. For this, an agreement is being sought with the large food producers and with distributors and commercial stores.

The Chief Executive confirmed that there will be no increases in gasoline, diesel and electricity. The central objective is to promote productive activities so that the country is self-sufficient in basic products. We will have to wait to know the details of this anti-inflationary plan of the Mexican government.

But for now, by ruling out a price control, it seems a way more consistent with economic reality.

We will have to see what is involved and how much will be invested in the guaranteed price scheme and how it will be applied.

Price controls were applied in Mexico during the 1980s and caused black markets, shortages and hoarding and ended up harming the lower-income population.

It is positive that the government seeks to lessen the impact of this growing wave of world inflation, but we must wait to see what exactly it proposes to determine its viability and its positive or negative effects.

Even the International Monetary Fund has suggested that governments seek temporary support to avoid social crises caused by inflation.

We will see.

They bid for Banamex: Banorte, Santander and Inbursa

Those interested in buying Banamex continue to raise their hands.

Grupo Financiero Inbursa, owned by businessman Carlos Slim, ratified its interest in participating in the bid for Banamex. He would not go alone. He will participate with other investors, although he did not open all his letters and did not give further details.

It was Frank Ernesto Aguado, director of Investor Relations at the bank, who commented that Inbursa will participate with an offer. However, he warned that it will depend on Citi selling the institution at a good price.

The day before yesterday, Santander reiterated its interest in buying Banamex despite the fact that Mexico’s president has expressed his desire for it to be sold to national investors.

It was just the day that the president of Santander, Ana Botín, met in Mexico with President López Obrador, when Carlos Hank González’s Banorte reported that it had started talks with Citi. What Citi is putting up for sale are the corporate and consumer banking businesses under the Banamex brand, as well as its Afores and insurance divisions, in addition to its cultural heritage.

The process, it has been said, will take many months. For now, the approach of the interested parties is beginning with the opening of the Banamex Data Room.

Banamex represents a great banking business opportunity.

There is still nothing for anyone and the coin is still up in the air.

glimpses

SAT-IMSS.- That the Simplified Trust Regime with which a rate of between 1.5 and 2.5% of Income Tax is charged to individuals with incomes of less than 3.5 million pesos, is being a success.

Substantially increased collection and increased the number of taxpayers.

The SAT headed by Raquel Buenrostro is in talks with the IMSS, of Zoé Robledo, to become an IMSS registration promotion window with preferential quotas that gives immediate access to social security, the pension system, nurseries and maternity, among others. to low-income taxpayers.

The potential beneficiaries would be all natural persons with incomes of less than 3.5 million pesos per year. Good news.

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