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Mexico. Eduardo Cepeda Fernández, President and CEO of JP Morgan Grupo Financiero, confirmed his commitment to Mexico and stressed that the country is attractive to foreign investors because of the combination of the market economy economic and political democracy. 19659002] What international investors think, he said, is that we have noticed some peace with regard to the political processes in Mexico. This tranquility has been reflected in recent weeks by a certain stability of the exchange rate and the stability of the Mexican Stock Exchange (BMV). "What I'm observing is that in international markets there is trust and tranquility."
At a press conference held at the headquarters of the BMV, after the presentation of the new financial vehicles that will be traded in the International Trading System (SIC) of the Mexican Stock Exchange known as ETF ( Exchange Traded Funds), the representative of JP Morgan, present in over 60 countries, said: "We remain very committed to a country like Mexico that has democracy and the market economy."
Cepeda Fernández explained: "What we observe until now is tranquility.There is also a measure that JP Morgan public is the EMBI, where we measure country risk.It is the amount that Mexico must pay in its debt obligations in relation to what the US Treasury pays and that the risk premium has risen in recent months.
"The purpose of the. Free Trade Agreement, the electoral and general problem of the country of irriga This is reflected in this premium. This premium has increased over the last two years, but in recent months it has stabilized. That is, it does not seem like people are more worried than them. Mexico is still an investment grade country and has a triple B rating, that is, people believe their investments in Mexico are safe, "said Eduardo Cepeda:" We think the Mexican economy It will grow and in fact grew slowly, but very consistent with an average of the last 20 years of 2.6 percent per year. This means that the economy has almost doubled in the last 20 years.
"We believe that Mexico continues on the path of the market economy and that, for democracy, it will have more well-being, be more and the emerging middle class that produces a more focused economy. manufacturing and less on the ground will produce a lot of consumption by Mexican consumers and therefore any company that is betting on the domestic market and the emergence of a class The Mexican media with more purchasing power are going to to be good values.
"This is not a year ago, but many years ago and we hope that the country will continue on this path and improve the welfare of the Mexican people will improve companies that serve the needs of the Mexican people, "he said.
For his part, Jose Oriol Bosch Par, director of the BMV said that what investors see is the macrofinancial fundamentals, macroeconomic and the stability that exists in the pay s.
"What is shown in the markets is that the country is already prepared for these processes (policies) and the Bolsa sees it rather stable 4700 points and is also reflected in the exchange rate that remained stable with levels below 20 pesos for one dollar.
"The activity is still very good and the volume traded on the BMV is still quite stable and we do not see any volume outside the normal and the investment side has been very good." Semester, it was one of the best we have had and this year we had 22 new names on the stock market. Last year, the total number was 38, we including debt with 18; 14 in CKD and six on the stock market. Here the amount was higher than the first half of last year and the number of resorts is also bigger and it is good. "
Carlos Varela General Manager of JP Morgan Global Asset Management and Juan Medina Mora, Director of JP Morgan Asset Managment Mexico, also attended the press conference.
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