Uncertainty about how banks in Mexico will take out the Ps37.1 billion ($2.74 billion) bridge loans that they provided to infrastructure projects last year is jeopardizing further development initiatives that are the cornerstone of the government’s plans to boost the economy. Refinancing of the loans is proving difficult, as liquidity in Mexico’s local markets is restricted.
In 2007, all Mexico’s leading banks, including Banamex, HSBC México and Banco Santander Mexicano, offered financing to one or more of the several large infrastructure projects.
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