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2024 Financing Plan Published, Busy Data Docket This Week

MEXICO
  • The Finance Ministry published the 2024 financing plan late last week, highlighting that the country’s financing for next year will focus on the domestic market, according to a statement Friday. Mexico has achieved a 70% reduction in external debt payments for 2025. Statement here: https://www.gob.mx/shcp/prensa/comunicado-no-82-se...
  • A busy data docket this week in Mexico includes October retail sales, Mid December CPI, November trade balance and October economic activity data.
    • Released earlier today: aggregate supply and demand rose 2.7% y/y (estimate +3.8%) in 3Q versus +4.8% in 2Q, according to the Inegi.
  • Separately, construction of the Nuevo Leon factory, which had been slated to make Tesla’s cheaper next-generation vehicles, is delayed due to Musk’s misgivings about the global economy. Other problems, including permitting delays and a dearth of infrastructure, also have plagued the process.

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