Author: David Ordaz
A few days ago the rating agency Fitch ratings announced that Hurricane Otis caused at least $16 billion in damage to Acapulco and Guerrero.and while he expects the credit impact to not be significant, he cautioned that companies such as BBVA, Inbursa And Quality Are more susceptible to losses.
In accordance with Council of Guerrero Chambers of Industry and Business (Concaingro), Otis botched the operation 3000 companies in the municipalities of Coyuca de Benitez, Benito Juarez, Xalpatlahuac, Acapulco, Atoyac de Alvarez and Tecpan de Galeana. These last three had operating declinebecause they were abandoned defective, dilapidated And destroyed.
In addition, 80% of the tourism infrastructure could not function in the near future.
Conkaingro appealed to the federal government with a request Local construction companies are rebuilding Acapulco..
Due to this Grupo Carso sharesincreased strongly, driven by a wave of optimism in markets about the prospects for increased public and private spending on the reconstruction of Acapulco.
An increase of just over 10% was indicated by the consortium Carlos Slim posted its highest profit since March 2020 and reversed accumulated losses recorded in the third quarter of the year.
For analysts, These expectations can benefit infrastructure-focused companies. which the government will have to use to revive the tourism destination.
In the current scenario, the “guardadito”, who has a government of about 15,000 million pesosthis is very little for what is required.
For Citibanamex, the resources proposed by the government to rebuild the port of Acapulco are “limited” and could mean a “very slow and partial” economic recovery.
“In our opinion, The resources announced so far by the government are equivalent to just 0.2% of gross domestic product. (GDP) appears to be very far from what is needed to fully reconstruct the affected area, so they could mean a very slow and partial recovery of the Acapulco economy,” the bank noted.
It should be noted that Guerrero is one of the lowest-income states in the country., since 96% of its income comes from the Federation and only 4% is collected by the organization. In addition, Acapulco represents 80% of the state’s own revenue, reflecting the economic importance of the tourist destination.
With this in mind, Guerrero businessmen called on the Federation to begin reactivation plan including government resources and loans for small and medium businesses.
MEXICAN STOCK EXCHANGE LAUNCHES “SHARES”
Last Monday we attended the launch Magazine ACCIONES of the Mexican Stock Exchangewhich will cover topics such as growth prospects, investment opportunities, capital market statistics, derivatives and financing, green investment trends, financial culture and much more.
In this first episode, Deputy Secretary of the Treasury Gabriel Yorio talking about the importance of investing in Mexico nowbecause the country has characteristics that make it more attractive for investment, the real economy and the financial sector.
According to Yorio, Mexico is a country with highly developed bond market compared to other Latin American countriesin addition to the presence of BMV, where one can see the growth of listed companies, their profits and margins, mainly in those focused on the manufacturing, construction and services sectors.
From here we wish success to the Mexican Stock Exchange, its director Jose Oriol Bosch already Lucero AlvarezEditorial Director of ACCIONES, for this important project, which will become a vital tool for making economic and financial decisions.
Source: Aristegui Noticias
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
