Mexico Economy Approaches Developed Nation Status Morris Beschloss - The Desert Sun
go to original May 27, 2014

Peña Nieto pledged to write a new chapter in the nation’s glory and hope. (Presidency of the Republic)

While most media headlines regarding the impact of Mexico among world nations seems to dwell on such negatives as drug gang wars, climatic disasters, and immigration problems, America’s southern neighbor, and partner in the North American Free Trade Authority (NAFTA) is reaching economically developed nation status. With a 120 million strong population, a fast-growing middle class, a rehabilitated oil production complex (PEMEX), and an expanded manufacturing base has caught attention where it counts, the world’s leading credit analysts:

1) Moody’s has recently elevated Mexico to A3 status from BAA1. Only Chile has reached that exalted elevation in Latin America.

2) Standard & Poor’s, which was roundly criticized for lowering the U.S.A.’s standing because of its debt problems a few year ago, moved Mexico up to BBB+ in recognition of that nation’s impressive economic progress.

While America’s often-maligned southern neighbor has always had the potential for economic dynamism - a) natural resource abundance; b) an active working class within a 100 million plus population, and c) a growing trillion dollar gross domestic product of goods and services, it took the year old presidency of young, Kennedy-esque and former television communicator, Enrique Peña Nieto’s Administration to put Mexico’s underlying economic strength into high gear.

Read the rest at The Desert Sun

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!