Mexicans have Coped with Adversity: President Calderón

calderon-adversityMexico City.  Monday, May 18, 2009
President Felipe Calderón said that Mexicans have not only survived but are overcoming the economic challenges of recent months that were compounded by the health contingency caused by the flu virus outbreak.

This is also due, to the fact that nowadays society is more united and aware of its responsibility and therefore better equipped to cope with adversity and thereby transform the country.

“In recent weeks, Mexicans have once again demonstrated their capacity to cope with the country’s adversity and problems with firmness, solidarity and determination. We must use this same attitude to continue constructing the bases of a different, better Mexico,” he added.

During the inauguration of the 19th National Insurers’ Convention, the President admitted that firms in this sector are part of the solution to the international financial situation. He therefore urged its members to combine efforts to enable Mexico to swiftly resume the path of growth.

“The insurance sector is crucial to ensuring that our economy resumes its growth.” Mexico needs your collaboration to expand the use of insurance among the population. One of the important lessons we have learnt from the health contingency is that we must reinforce the culture of prevention,” he said.

At the Esplanade leading to the Monument of Francisco I. Madero, at Los Pinos, the President reported that during the first quarter of 2009, the insurance sector in Mexico reported a 13% increase in its total assets, equivalent to over 4% of the GDP.

Accompanied by Secretary of Finance and Public Credit, Agustín Carstens, President Calderón listed the actions taken by his government to deal with the economic crisis. These include the boost to infrastructure, which increased by over 80% during the first quarter of the year; granting credit to PyMES (small and medium businesses) which totaled over 22 billion pesos in April and the decree issued in May to help Mexican firms cope with their cash flow problems.

“In the space of a few months, Mexico has overcome enormous, unpredictable challenges that would have crushed many other nations: one of the most severe economic crises of recent decades, perhaps the worst since the Second World War; the threat posed by crime to society, citizens and institutions and of course the health crisis, caused by the emergence of a new disease, an epidemic that was unknown throughout the world until a few months ago,” he said.