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Capital Markets

Videgaray pulls Mexico into shape

Mexico’s government has introduced a swathe of structural reforms that aim to cut key input costs in the economy, arrest deteriorating productivity and improve the country’s long-term growth rates. However, it is the finance minister’s recent energy reforms that have most made economists and investors buoyant about the outlook for Latin America’s second biggest economy.

Illustration: Paul Daviz

Euromoney meets Mexico’s finance minister, Luis Videgaray, in a beautiful townhouse in the district of Polanco that serves as one of the minister’s two main offices.

It is a Friday morning, exactly one week after he presented the 2015 budget to Congress and those seven days have been occupied by submitting the budget to political scrutiny and questions. That process – Euromoney is warned – has been a gruelling one. On the previous day alone Videgaray had been on his feet (literally) for seven hours in front of lawmakers as part of the process of passing the budget.

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