States initiate purely financial bonds
Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

States initiate purely financial bonds

The 31 states of Mexico are bonding again. But unlike independence in 1821 this time it is purely financial.

Tijuana: growing fast but on a meagre budget

Legislation passed in April allows Mexican states and municipalities to issue debt for the first time. Bonds are the order of the day and many states are preparing new issues for later this year.

In a country propelled forward by rapid economic growth but burdened by a mounting population the stretched finances of states and municipalities have been unable to keep up with the country's infrastructure needs.

Tijuana, one of Mexico's fastest-growing cities, is expanding by 3.2 hectares a day and survives on a meagre budget of $150 million a year. By comparison, San Diego, its sister city just over the border in California, has an annual municipal budget of $2.3

Gift this article