Banks warn that stopping paying bank bailout debt damages credit reputation

The President said it is not easy to stop paying Fobaproa's debt from one day to the next because it will have 'very important' implications.

Although the Fobaproa represented a “savage” and a “serious act of political irresponsibility” on the part of those who approved it, “it is not technically or financially possible” to stop paying that debt, so the call of the PRI in that sense is irresponsible,” said the coordinator of the Morena bench in San Lázaro, Ricardo Monreal.

Nuevo Vallarta.- The Association of Banks of Mexico signed a collaboration agreement with the Secretariat of Finance of the CDMX to promote sustainable finance, a sector in which the capital plans to become a national and international benchmark this year with the issuance of green bonds for up to 3.5 billion pesos.Julio Carranza, president of the ABM, stressed that “the most recent ASG report of the Bank highlights an annual sustainable financi…

Nayarit (Mexico), 8 May (EFE).- The Association of Banks of Mexico (ABM) warned this Thursday that suspending the payment of the debt of the Bank Fund for the Protection of Savings (Fobaproa) would have serious consequences for the credit reputation of the country vis-à-vis national and international markets. Raúl Martínez-Ostos, vice president of the ABM, said during the 88th Banking Convention that this debt, acquired during the financial cris…

Ximena MejíaThe president of Mexico, Claudia Sheinbaum, said that it is not easy to stop paying the debt of the Bank Fund for the Protection of Savings (Fobaproa) from one day to the next, and that Mexicans will have to pay it until 2050. "Let's say, IPAB bonds, which can now be bought in the market, let's say, it's not that simple overnight, it won't be paid, first any decision not to pay a debt has very important implications for the country,"…

NAYARIT (EFE and El Universal).— The Mexican Banking Association (ABM) warned that suspending payment on the debt of the Banking Fund for Savings Protection (FOBAPROA) would affect Mexico's credit reputation in international and domestic markets. Raúl Martínez-Ostos, vice president of the organization, explained that this debt, originated after the banking crisis of the 1990s, is consolidated as public debt, so its non-compliance would be interp…