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Exclusive: Videgaray Spells out Reform Agenda

Dec 14, 2012

In his first interview with any international or domestic print media since taking office, Mexico’s new finance minister Luis Videgaray tells LatinFinance why he is confident that fiscal and energy reforms will take place in 2013

Mexico’s new finance minister Luis Videgaray says he is confident political consensus now exists to shake up state oil company Pemex and overhaul the country’s fiscal regime through a bold set of reforms to be carried out next year.

In his first interview with the foreign or local print media since taking office this month, Videgaray tells LatinFinance that an overhaul of the country’s fiscal system will be central to boosting competitiveness and raising potential GDP from 3% to near 6% in the coming years, a key electoral pledge.

“This not just a marginal twist in the fiscal regime. We need to do a true overhaul of our fiscal structure in order for this to be possible,” he says....

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management