Oil’s Toll on the Mexican Economy

MEXICO - Report 19 Dec 2014 by Mauricio Gonzalez and Ernesto Cervera
Executive Summary One of the subjects most widely discussed in recent weeks is the abrupt plunge in oil prices and the multiple effects it will entail for both producing and consuming countries. Prices have fallen by an average of 35% to 40% from their highs of the past decade (2011), and the similar levels recorded earlier this year. They are currently approaching the lows registered in the wake of the crisis of 2008-2009. The short term impact on Mexico of falling oil prices is evident. For starters, there is increased foreign exchange volatility, which got underway more in response to th...

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