Citi’s Exit Triggers Damage Control in Crisis-Scarred Mexico
- Finance minister, banking head rush to ease savers’ worries
- Mexico economy has nothing to do with Citi’s decision: Ramirez
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Citigroup Inc.’s plan to exit retail-banking operations in Mexico has pushed the government into damage-control mode to ease concerns in a country scarred by a financial crisis in the 1990s.
Finance Minister Rogelio Ramirez de la O sought to tamp down any negative reading on the economy from the potential sale, and he said the government would seek to limit the closure of any branches.