Mexico’s President Rules Out Company Bailouts or Requesting IMF Line
- Business groups’ plea for tax referral, relief rejected Monday
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Andres Manuel Lopez Obrador during news conference at the National Palace in Mexico City on March 17, 2020.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
President Andres Manuel Lopez Obrador said the nation’s companies shouldn’t expect bailouts or tax amnesties and that Mexico won’t tap a standing credit line with the International Monetary Fund even as other economies take extraordinary measures to fight a slump in activity.
“No more bailouts in the style of the neoliberal period, which were given to banks, to large companies. No, don’t even think that there will be tax forgiveness or other mechanisms that were used before,” Lopez Obrador said Monday in his morning news conference.