Mexico's President Vicente Fox wants bankers to speed-up lending to support a nascent economic recovery, he told the Mexican Banking Association's (ABM) 67th annual convention in Acapulco.
"Mexico needs banks to retake their role as motors of sustained economic growth. We ought to expand the offering of credit. Without credit there is no growth, without growth there is no development," Fox said at the conference's opening ceremony.
Mexico's financial system was devastated by the so called Tequila crisis in 1995, which saw 14 banks go out of business and cost the tax payer over US$50bn in bailouts. There is a perception that banks have been reluctant to start lending again in force after the 1995 financial crisis
