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Mexico

Bank to give Mexico $205 million for swine flu

Nina Vucenik's picture

Augustin Carstens, Development Committee Chair, Finance Minister, MexicoAt the Development Committee closing press conference, Bank President Bob Zoellick together with Agustín Carstens, who is Mexico's Finance Minister as well as Development Committee Chair, announced that the Bank is giving Mexico more than $205 million to help the country fight the Swine Flu virus.

According to news reports, the virus has killed up to 81 people in Mexico city and a sickened more than a thousand people since the outbreak began.

“We're extremely grateful for the prompt response by the World Bank -- such promptness is always very, very appreciated,” said Carstens. “But beyond resources, what is also important is all the experience that the World Bank has accumulated in precisely having assisted other countries in this type of situation."

The project will be fast-tracked so that funds can be disbursed within 3-5 weeks.

Mexico remittances increase as the Peso weakens

Sanket Mohapatra's picture

The Mexican central bank's latest data release shows that remittances to Mexico increased by 13 percent in October on a year-on-year basis. This comes after a widely-reported 12 percent year-on-year drop in August and (less widely reported) flat growth in September. 

A recent AP article attributes this increase to the depreciation of the Mexican Peso against the U.S. dollar:


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