The politico-biology of Mexico comes apart

Article Abstract:

Political alliances are unravelling in Mexico in relation to a bank rescue. Fobaproa is a Mexican agency which took over non-performing loans from banks following the 1994-1995 currency collapse. Banks were issued with bonds in exhcange for their loans, but some loans were poorly set up, and many large loans were fraudulent. The debate on how to tackle the problem includes allegations that the rescue of the banks was aimed at protecting rich lenders and borrowers. There are also allegations relating to payments to the ruling Institutional Revolutionary Party by banks for campaign expenses.

Political aspects

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Debts to society

Article Abstract:

The Mexican government is seeking to tackle the aftermath of the banking crisis which involved the purchase of bad debts from banks by the Mexican government. A team of auditors from Canada is examining the debts to assess whether fraud is involved, or whether debtors are simply unable to pay. The banks will have to take back debt seen as fraudulent, and the banks will also have to contribute to the cost of discounts provided for small borrowers. This is a compromise after previously proposals were seen as favoring banks at the expense of taxpayers.

Economic policy, Bad debts

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Two Frenchmen in Ankara

Article Abstract:

Turkey is making real progress in its efforts to reform the banking system. The number of banks has been cut from 79 to 67 and 20,000 banking jobs have been lost. Banks have also been ordered to meet Basel capital-adequacy standards.

Turkey

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