How te Resolve the Crisis in Europe

Potential Solutions for the European Crisis
Howard Davies, former deputy governor of the Bank of England and former director of the London School of Economics, talks about the outlook for a resolution to Europe's sovereign-debt crisis.

GLOBAL ECONOMY

Hope for American Manufacturing—and Maybe Jobs
Some factory work is returning to the U.S., thanks to a narrowing wage gap with low-cost countries and to the rising risks posed by long supply lines.

Gap between rich and poor widens in developed economies
Income inequality in developed nations will become more severe if governments do not act to halt the trend, the OECD said.

High oil prices may threaten growth: BP
The fragile economic recovery could be negatively affected by high oil prices, especially in the United States.


FINANCE AND ACCOUNTING

Five Steps to a More Effective Global Treasury
Demands on the corporate treasurer are changing, and many are struggling to keep up with those adjustments.

SEC Won’t Decide on IFRS for At Least a Few More Months
SEC Chief Accountant James Kroeker said the SEC staff will need at least a few more months to produce a final report that would position the commission to make a determination on IFRS.

Data-protection tips for mobile CPAs
These control procedures can help mitigate the risks associates with mobile devices.


"Continuous effort - not strength or intelligence - is the key to unlocking our potential."
- Winston Churchill



What can we do for your business?
Audit Projects in Mexico and Latin America
Business Development Strategies
Due Diligence / M&A
Optimization of Finance Function

For a complete list of our services please click here:

English

Spanish

Also follow us on Twitter, Facebook and LinkedIn


KEY MEXICO STATISTICS 2011
(Source: Mexico Central Bank)

NOV / OCT / SEP

Exchange Rate: MXN to USD
13.6100 / 13.4645 / 12.9754

Exchange Rate: MXN to EUR
18.3462 / 18.4404 / 18.5353

Exchange Rate: MXN to CAD
13.4167 / 13.2026 / 13.2191

Exchange Rate: MXN to GBP
21.4235 / 21.1450 / 21.4746

Country Risk (basis points)
136 / 175 / 246

Bolsa (IPC BMV)
36,698 / 36,160 / 33,503

Cetes 28d
4.35% / 4.38% / 4.34%

Inflation
3.20% / 3.14% / 3.42%

UDIs
4.650792 / 4.609457 / 4.589563

International Reserves (M USD)
140,025, 140,487 / 136,454


MEXICO AND LATIN AMERICA

Cost to catch one illegal immigrant along the Mexico border: $6,271
President Obama’s decision last year to send 1,200 National Guard troops to the U.S.-Mexico border may have been smart politics, but a growing number of skeptics say the deployment is an expensive and inefficient mission that has made little difference in homeland security.

U.S. Agents Launder Mexican Profits of Drug Cartels
Undercover American narcotics agents have laundered or smuggled millions of dollars in drug proceeds as part of Washington’s expanding role in Mexico’s fight against drug cartels.

Is Latin America’s Financial Sector on a Strong Footing?
While the economic crisis relentlessly ravages Europe and the United States, Latin American countries anxiously wait on the sidelines.

Interested in doing business in Mexico? Then you should watch this.


OTHER TOPICS

Interview with Judith Macgregor, Ambassador of United Kingdom in Mexico
The Ambassador explains to us the status of the current bilateral relation with Mexico, where she sees opportunities for growth and further cooperation, and what London and the U.K. are preparing for next year’s Olympic Games.

100 Books to Read Before You Die
There are a lot of books out there, and each of us has a limited amount of time before we die. Of all the books available, there are certain ones we should read, possibly even must read. Here are 100 of those books.

OFUNAM Y FUNDACION MVS INVITAN
Concierto anual en compañía de Guadalupe Pineda, Fernando de la Mora y la Orquesta FILARMONICA de la UNAM, el jueves 15 de diciembre a las 8:00 pm en la sala Nezahualcóyotl. Todos los ingresos ayudaran a personas con discapacidad auditiva y programas de educación musical.

Greece and the Future of the Euro

Greece and the Future of the Euro
Under the current circumstances, it is not crazy to think that the Greek crisis will have an impact on the very existence of the Euro in the mid-term.

GLOBAL ECONOMY

MF Global is First Big US Victim of Europe Crisis
The European debt crisis has claimed its first big casualty on Wall Street, a securities firm run by former New Jersey Governor Jon Corzine.

What Large Corporations Think About The World Economy
Earnings press releases and conference call transcripts reveal some insights into the state of the world economy.


FINANCE AND ACCOUNTING

Shhh! Don’t Name That Auditor
Do you know who audits the books of the companies in which you invest?

Seven Principles for Avoiding Bankruptcy
A turnaround expert lays out the basics necessary for a CFO to keep a company afloat.


MEXICO AND LATIN AMERICA

Buying Dollars in Argentina Just Got a Lot Tougher
Argentina has launched a new crackdown on capital flight, tax evasion and money laundering, scrutinizing all foreign currency purchases.

Brazil Energy Boom Spurs USD $1 Billion in Deals
Brazil's energy boom is generating contracts worth hundreds of millions of dollars, the latest worth more than $1 billion going to multinationals GE and Teledyne.

Rebound in Mexican Factories Could Mean Jobs for the U.S.
As Chinese salaries rise and trade tensions deepen, factories along the border are set to benefit.

Interested in doing business in Mexico? Then you should watch this.
http://www.youtube.com/watch?v=hKhsa_xP93A


"To be happy at home is the ultimate result of all ambition."
- Samuel Johnson


KEY MEXICO STATISTICS 2011
(Source: Mexico Central Bank)

OCTOBER / SEPTEMBER / AUGUST

Exchange Rate: MXN to USD
13.4645 / 12.9754 / 12.2056

Exchange Rate: MXN to EUR
18.4404 / 18.5353 / 17.8317

Exchange Rate: MXN to CAD
13.2026 / 13.2191 / 12.6841

Exchange Rate: MXN to GBP
21.1450 / 21.4746 / 20.1482

Country Risk (basis points)
175 / 246 / 177

Bolsa (IPC BMV)
36,160 / 33,503 / 35,721

Cetes 28d
4.38% / 4.34% / 4.11%

Inflation
3.14% / 3.42% / 3.55%

UDIs
4.609457 / 4.589563 / 4.583945

International Reserves (M USD)
140,487 / 136,454 / 136,820


OTHER TOPICS

OFUNAM – 65 Aniversario del Instituto Nacional de Cancerología
José Guadalupe Flores, director huésped. Obertura Las Hébridas de Mendelssohn, Bolero de Ravel, Sobre las Olas de J. Rosas y Huapango de Moncayo. Viernes 25 de Noviembre en la Sala Nezahualcóyotl. UNAM. Ciudad de México.

The Top 25 Philanthropists
Read on to see the list of the Top 25 Richest Millionaires & Billionaires giving away their money to make this world a better place.

All You Ever Wanted to Know About the Groupon IPO
Here’s a breakdown of the most important numbers surrounding this highly anticipated IPO.

Worst Corporate Language Ever

Worst Corporate Language Ever
Business clichés have long been allowed to proliferate and multiply within the business establishment. These are some of the worst.

GLOBAL ECONOMY

The Basic Role of Government
The fight between Congress and President Obama is not about reducing the deficit by $1.2 trillion to hit some artificial budget target. It is about reconciling fundamentally competing visions of the role of government.

Capex Numbers Reflect No Expansion
A barometer of spending on equipment was up in August, but not enough to suggest that businesses are doing anything more than replacing aging assets.

Five Ways to Manage Overseas Business Risks
Expanding abroad will be a lot more fun if you can avoid cultural faux pas, kidnapping, disease, and accidents.

The 10 Biggest Employers In The World
These are the ten largest employers in the world. Notably 7 of them are state companies, ranging from defense to postal service. And half of them are in China.


FINANCE AND ACCOUNTING

What Were the Auditors Thinking?
Investors and accountants differ sharply on the possible introduction of a narrative aimed at providing a view of corporate financials through the auditor’s eyes.

Large companies spent more on CEO salaries than taxes in 2010
General Electric, Boeing and eBay are among the corporations that paid their CEOs more than they paid in federal taxes last year.

Becoming a Chartered Financial Analyst
CFA Institute Managing Director Thomas Robinson on why the CFA credential makes sense for investment analysts or portfolio managers, and what it takes to get one.


MEXICO AND LATIN AMERICA

Entrevista a Salomon Chertorivsky
Tuvimos el privilegio de platicar con el ex-Comisionado Nacional del Seguro Popular, actual Secretario de Salud, en una entrevista concedida a la revista AAPAUNAM.

Emerging markets are great investment option
A possible "developed economy" recession in the U.S. and Europe is leading PIMCO's Bill Gross to favor investments in Australia, Mexico, Brazil and Canada.

Peru's leftist government attracts new investment
Humala government says getting $5.7 bln new investment. Prime Minister Lerner working to avert protest over water resources that involve Grupo Mexico.

Worst Mexican Peso Slump Since 2008
Mexico’s peso is posting its worst quarter in three years on concern Europe’s financial crisis will exacerbate a slowdown in the U.S. economy.


"In the depths of winter I finally learned that within me there lay an invincible summer."
- Albert Camus


OTHER TOPICS

OFUNAM – Season Opening
Con “Un Réquiem Alemán” de Johannes Brahms y “Un Sobreviviente de Varsovia” de Arnold Schönberg la agrupación universitaria abrirá su tercera temporada el 8 y 9 de octubre en la Sala Nezahualcóyotl. UNAM. Ciudad de México.

How To Tell Someone They're Wrong (And Make Them Feel Good About It)
We all know honest feedback is invaluable, but what is the best way to deliver it?

Ten Things Only Bad Managers Say
Helpful, encouraging, and trust-based words and phrases don’t occur to bad bosses.


What can we do for your business?
Business Representation in Mexico
Business Development Strategies
Financial and Operational Audits
Due Diligence / M&A
Finance & Accounting Process Improvement
For a complete list of our services please click here:
English

Spanish

Also follow us on Twitter, Facebook and LinkedIn


KEY MEXICO STATISTICS 2011
(Source: Mexico Central Bank)

SEPTEMBER / AUGUST / JULY

Exchange Rate: MXN to USD
12.9754 / 12.2056 / 11.6716

Exchange Rate: MXN to EUR
18.5353 / 17.8317 / 16.8939

Exchange Rate: MXN to CAD
13.2191 / 12.6841 / 12.2778

Exchange Rate: MXN to GBP
21.4746 / 20.1482 / 19.2788

Country Risk (basis points)
246 / 177 / 132

Bolsa (IPC BMV)
33,503 / 35,721 / 35,999

Cetes 28d
4.34% / 4.11% / 3.96%

Inflation
3.42% / 3.55% / 3.28%

UDIs
4.589563 / 4.583945 / 4.566807

International Reserves (M USD)
136,454 / 136,820 / 133,894

Interested in doing business in Mexico? Then you should watch this.

Interview with Marcel Gaudreau, Quebec Representative in Mexico

Interview with Marcel Gaudreau
The General Delegate of Quebec in Mexico speaks about the bright perspective of this bilateral relationship and the opportunities to enhance it even further (In Spanish).

GLOBAL ECONOMY

A World of Risk
In emerging markets, the clash between politics and profits poses multiple threats.

The Immigration Debate
Why does the Canadian public accept immigration in a way that the American public does not?


FINANCE AND ACCOUNTING

How IFRS Could Change Corporate Finance
Colleen Cunningham, CPA, explains how a move to IFRS in the U.S. could give rise to new litigation concerns and encourage outsourcing of certain finance functions.

Beef Up Internal Audit
Some tips on how CPAs who oversee or conduct internal audits can take their group to the next level.


INTERNATIONAL FEDERATION OF ACCOUNTANTS

The Flying Dutchman
Former Ernst & Young partner, vice president and controller of the World Bank, and chief internal auditor of the European Commission, Jules Muis explains how to stabilize the international financial architecture.


MEXICO AND LATIN AMERICA

Mexico: The Comeback Kid
The gap with China on labor costs is now so narrow that many manufacturers are relocating to Mexico, taking advantage of its proximity to the U.S. market.

Brazil launches scheme to lift millions out of poverty
The project aims to build on current programs, which are credited with raising 20 million Brazilians out of poverty over the past decade.


"Two roads diverged in a wood, and I… I took the one less travelled by, and that has made all the difference."
Robert Frost


OTHER TOPICS

The Bilingual Advantage
A cognitive neuroscientist, Ellen Bialystok has spent almost 40 years learning about how bilingualism sharpens the mind.


OUR CONSULTING SERVICES
Financial and Operational Audits
Due Diligence Reviews
Financial Advice to CEOs and CFOs
Fraud Prevention and Detection
“Doing Business in Mexico” Workshop

For a complete list of our services please click here:

English

Spanish


KEY MEXICO STATISTICS
May 11 / Apr 11 / Mar 11

Exchange Rate: MXN to USD
11.6510 / 11.7384 / 12.0082

Exchange Rate: MXN to EUR
16.7369 / 17.0842 / 16.7517

Exchange Rate: MXN to CAD
11.9804 / 12.1492 / 12.2850

Exchange Rate: MXN to GBP
19.0793 / 19.1718 / 19.1070

Country Risk (basis points)
147 / 137 / 128

Bolsa (IPC BMV)
35,833 / 36,963 / 37,440

Cetes 28d
4.43% / 4.50% / 4.30%

Inflation
3.36% / 3.04% / 3.57%

UDIs
4.580857 / 4.591694 / 4.588899

International Reserves (M USD)
127,982 / 125,305 / 121,885

(Source: Mexico Central Bank)

17 Public Companies Heading to Bankruptcy

IN FOCUS

17 Public Companies Heading to Bankruptcy
The following article identifies 17 public companies with a large probability of filing for bankruptcy this year.

GLOBAL ECONOMY

Inflation Expectations Keep Rising
Companies are stockpiling commodities to hedge against inflation. This signals that inflation expectations are rising all over the world. How concerned should we be?

Merger Activity Heats-up in 2011
Companies worldwide made $351.6 billion in acquisitions during the first weeks of 2011, an increase of nearly 80% over the same period last year.

Rising China Takes Over a Shrinking Japan
China passed Japan in 2010 to become the world's second-largest economy, a historic shift that has drawn mixed emotions in the two Asian powers.


FINANCE AND ACCOUNTING

The Role of the CPA in Scenario Planning
As many organizations integrate aspects of scenario planning into financial planning, they are looking to their CPA partners for support in conducting rigorous and insightful analysis

Bridging East and West
Interview with Masayasu Uno, Board of Directors of Daito Construction and Trust: How to take into account some Japanese differences in corporate governance, financial reporting, and auditing practices.

Forensic Auditor Gains Worldwide Recognition
From the second Muna Dora Buchahin, Director General of Forensic Audit, steps into the Superior Audit Office of Mexico, there is only one thing on her mind: the progress of her division’s forensic audits.


MEXICO AND LATIN AMERICA

Carlos Slim Bullish on Colombia
Mexican tycoon Carlos Slim is planning investments in Colombia to capitalize on the country's liberal regulatory policies, abundant raw materials and burgeoning middle class.

For Pepsi, a Business Decision with Social Benefit
PepsiCo’s work with corn farmers in Jalisco, Mexico, reflects a new approach by corporations trying to maintain a business edge while helping out small communities.


"Wherever you go, go with all your heart."
- Confucius


OTHER TOPICS

A Collector of Everyday Objects on His New Museum
Bruno Newman, the founder and director of Zimat, a large communications firm in Mexico, has spent more than 50 years collecting various kinds of objects — and now has opened a unique museum.


PROJECT PORTFOLIO

Interested in doing business in Mexico? We have the best ticket to enter this market. Ask for our one-week tailored workshop.

French company, leader in the beauty sector, with strong presence in 10 countries and sales of 500K EUR. Seeks investors or acquirers.

Renewable energy company with strong distribution network in Mexico, annual sales of $7.5M USD, growing at annual 20% rate. Seeks investors or acquirers.

Exporter of Mexican hammocks with key competitive advantages in price and quality. Based in the Yucatan Peninsula. Seeks distributors or investors.

(Contact armando@nuricumbo.com for further information)


KEY MEXICO STATISTICS
Feb 11 / Jan-11 / Dec-10

Exchange Rate: MXN to USD
12.1062 / 12.1214 / 12.3936

Exchange Rate: MXN to EUR
16.7453 / 16.6306 / 16.0204

Exchange Rate: MXN to CAD
12.4378 / 12.1536 / 12.2941

Country Risk (basis points)
145 / 142 / 140

Bolsa (IPC BMV)
36,880 / 36,840 / 38,551

Cetes 28d
4.21% / 4.05% / 4.56%

Inflation
3.78% / 3.96% / 4.32%

UDIs
4.570274 / 4.558235 / 4.526308

International Reserves (M USD)
119,485 / 117,565 / 112,996

(Source: Mexico Central Bank)

Top Risks for 2011

Top Risks for 2011
The risks in 2011—conflict from the North Korean succession process, the unwillingness of China to budge under international pressure, the lack of political and economic coordination in Europe, currency controls intensifying global economic misalignment, violence in key emerging economies like Pakistan and Mexico—are intensified by the transition to a new world order.


GLOBAL ECONOMY

A Look at the Bigger Financial Ramifications of the Egypt Crisis
Riots in Egypt have shut down business operations and kept the nation's stock market (EGX) closed for a second day after it fell 16% last week

Egypt’s Messy Change Demands That Obama Step Up
The U.S. response to the outbreak of protests was initially inadequate. Some of the rhetoric used by the Obama administration in the first few days was out of touch with reality.

At Davos, men outnumber women by over 5 to 1
Research shows that investing in women is good business and some companies have taken significant steps to increase their female staff, especially at the top -- but at the world's premier economic gathering, men still outnumber women by a ratio of more than five to one.

How to tip in every major country
Even the savviest globe trotters can make a mistake when it comes to knowing when and how much to tip.


FINANCE AND ACCOUNTING

Governance, Corporate Responsibility, and Sustainability
For Standard Life Investments, corporate governance, social responsibility, and sustainability are integral parts of its investment process to protect the value of its investments. The Head of Corporate Governance presents his wish list for the next steps.

FASB moves toward reversing mark-to-market proposal
The FASB has started taking steps toward allowing banks to continue to use amortized cost to value many of their loans, rather than shifting to a "fair value" accounting method.

Obama pushes for a tax overhaul in State of the Union address
President Barack Obama called for a lower corporate tax rate and simpler taxes for individuals during his State of the Union address on Tuesday. Obama also indicated his willingness to repeal the expanded Form 1099 reporting provisions and end tax-cut extensions for the wealthy.


MEXICO AND LATIN AMERICA

Interactive map of drug-trafficking routes in Mexico
Formally, power in Mexico is shared between 31 states and one federal district. Informally, it is also shared by eight large drug-trafficking organizations.

How does Guadalajara do IT?
Relatively untouched by the recent wave of violence in northern Mexico, Guadalajara, capital of the state of Jalisco, seems like the promised land for those who still see big rewards in Mexican outsourcing.

Chinese factories lose ground to Mexican manufacturers
Wages in China have more than doubled in the past three years, driving firms to build factories in Mexico, where labor costs are more stable. "We ran the numbers and made the decision to move our equipment down to Mexico, with the decision really based on trying to give our customers more stable pricing," said Harrell Ward, president of grill manufacturer Meco.


"Only those who will risk going too far can possibly find out how far one can go."
T. S. Elliot


OTHER TOPICS

18 Common Work E-mail Mistakes
Time to go through some of the worst e-mail mistakes employees make and how to avoid them.

How managers can build better organizations
Steve Tobak shares 10 ways managers can promote more cooperation and employee engagement in their organizations. Rule No. 1: Eliminate the gulf between managers and employees. "Corporate culture fails when executives don't lead by example," Tobak writes.


PROJECT PORTFOLIO

Exporter of Mexican hammocks with key competitive advantages in price and quality. Based in the Yucatan Peninsula. Seeks distributors or investors.

French company, leader in the beauty sector, with strong presence in 10 countries and sales of 500K EUR. Seeks investors or acquirers.

Investment opportunity in Chiapas, Mexico. Ranch and warehouse for sale. Located near Tapachula. Property deeds in order. Ideal for live stock or coffee business.

Renewable energy company with strong distribution network in Mexico, annual sales of $7.5M USD, growing at annual 20% rate. Seeks investors or acquirers.

Flexible support in audit and finance projects worldwide.

(Contact armando@nuricumbo.com for further information)


KEY MEXICO STATISTICS
Jan-11 / Dec-10 / Nov-10

Exchange Rate: MXN to USD
12.1214 / 12.3936 / 12.5538

Exchange Rate: MXN to EUR
16.6306 / 16.0204 / 16.2275

Exchange Rate: MXN to CAD
12.1536 / 12.2941 / 12.1410

Country Risk (basis points)
142 / 140 / 141

Bolsa (IPC BMV)
36,840 / 38,551 / 36,817

Cetes 28d
4.05% / 4.56% / 4.51%

Inflation
3.96% / 4.32% / 4.02%

UDIs
4.558235 / 4.526308 / 4.498813

International Reserves (M USD)
117,565 / 112,996 / 110,544

(Source: Mexico Central Bank)

2011 Economic Outlook

Welcome!

Happy 2011 to all of you.

In this edition you will find an interesting interview with Michael Wolf, chief economic commentator of the Financial Times, who shares his view of economic trends for this year.

There are some other articles on the incredible size of the Chinese economy, the relationship between CEOs and CFOs in fraud cases, the extent of corruption around the world, and new trends on accounting for sustainability. I hope you will find these articles useful.

Receive my best wishes for the New Year.

With very best regards,
Armando Nuricumbo, CPA, CPC, CFE


IN FOCUS

2011 Economic Outlook
The Financial Times chief economics commentator makes his predictions for 2011 about world economic growth, the eurozone crisis, interest rates and currency wars.


GLOBAL ECONOMY

17 Facts About China That Will Blow Your Mind
The speed and size of economic development going in China right now has never happened before. In just ten years, a small emerging market has transformed into a geopolitical bruiser that can go toe-to-toe with the United States.

2010 CEO Wealth Creation Index
Now in its third year, the CEO wealth creation index attempts to identify those business leaders who have performed best in creating true economic value—as opposed to mere accounting value.


FINANCE AND ACCOUNTING

1 out of 4 people bribed someone in the past year
Transparency International said 1 in 4 people worldwide paid a bribe to a service provider in the past 12 months. The most common recipients of bribes were police, followed by people who issue permits or run registries.

More companies account for green practices
A survey of accountants from the U.S., U.K. and Canada found that more companies are beginning to measure the impact of sustainability initiatives on their businesses.

CEO intimidation plays a role in CFO fraud
Chief financial officers are most likely to commit financial misdeeds as a result of pressure from overbearing CEOs, according to new research.


MEXICO AND LATIN AMERICA

How Mexico's drug war affects tourism
What can travelers expect from Mexico in 2011? Violence has increased, but some areas are relatively safe and airlines are adding flights.

Brazil's Rousseff quickly tackles spending
President Dilma Rousseff's new government moved immediately to tackle the biggest threats to Brazil's booming economy, vowing new budget cuts, measures to deal with an overvalued currency, and even a tougher line in trade talks with China.



“Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety."
Benjamin Franklin, American statesman and inventor


OTHER TOPICS

The year's worst business decisions
A lot of smart business people made a lot of dumb mistakes this year. Among the most memorable: Gap's on-again, off-again logo change; Microsoft's Kin smartphone, which cost $1 billion to develop but was axed after barely a month; and Chevrolet's fight with motorists and employees who insisted on referring to the brand as "Chevy."


PROJECT PORTFOLIO

French company, leader in the beauty sector, with strong presence in 10 countries and sales of 500K EUR. Seeks investors or acquirers.

Investment opportunity in Chiapas, Mexico. Ranch and warehouse for sale. Located near Tapachula. Property deeds in order. Ideal for live stock or coffee business.

Mexican steel company at the final stage of liquidation process, looking for strategic investors that could benefit from significant tax losses.

Renewable energy company with strong distribution network in Mexico, annual sales of $7.5M USD, growing at annual 20% rate. Seeks investors or acquirers.

British consulting company interested in Latin America. Leader in training for financial companies and central banks. Offers franchise with high ROI potential.

Flexible support in audit and finance projects worldwide.

(Contact armando@nuricumbo.com for further information)


KEY MEXICO STATISTICS
Dec-10 / Nov-10 / Oct-10

Exchange Rate: MXN to USD
12.3936 / 12.5538 / 12.4498

Exchange Rate: MXN to EUR
16.0204 / 16.2275 / 17.1507

Exchange Rate: MXN to CAD
12.2941 / 12.1410 / 12.1252

Country Risk (basis points)
140 / 141 / 128

Bolsa (IPC BMV)
38,551 / 36,817 / 35,568

Cetes 28d
4.56% / 4.51% / 4.51%

Inflation
4.32% / 4.02% / 3.70%

UDIs
4.526308 / 4.498813 / 4.468266

International Reserves (M USD)
112,996 / 110,544 / 109,477

(Source: Mexico Central Bank)