For years, Mexico's policymakers have avoided taking the tough medicine the country needs to boost its tax revenue and reduce its singular dependence on oil revenues. Congress had a chance recently to push through meaningful fiscal reform during a debate over the 2010 budget, but legislators balked at raising taxes in a year when the economy is set to shrink about 7.5%.
Tuesday, December 15, 2009
Mexico's Government Debt Downgraded
Posted by Ben Cunningham at 7:43 AM