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Tag: speed

IMF Calls on Mexico to Spend More to Speed Up Weak Recovery

October 7, 2020
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(Bloomberg) — The International Monetary Fund called on Mexico to implement short-term fiscal and monetary support to “limit the damage from the pandemic” and secure a faster economic recovery.

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In a statement released after an official visit to the country, IMF staff said the Mexican government’s response to the coronavirus outbreak was “very modest,” and encouraged it to more than triple fiscal support to households, private businesses and health care. The country could boost spending by 2.5%-3.5% of gross domestic product to offset further economic fallout, it said.

“Mexico has some fiscal space and enjoys comfortable market access that could be used in these difficult times,” the IMF said Tuesday, adding that it expects Latin America’s second-largest economy to contract 9% this year. “Based on these projections, employment, income, and poverty will take several years to return to pre-pandemic levels.”



chart: Mexico's Plunge


© Bloomberg
Mexico’s Plunge

President Andres Manuel Lopez

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INSIGHT-Secrecy and speed: Inside Ant Group’s unusual IPO process

October 1, 2020
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| business

By Kane Wu, Julie Zhu and Scott Murdoch

HONG KONG, Oct 2 (Reuters) – Ahead of what’s likely to be the world’s largest initial public offering, China’s Ant Group Co Ltd is asking lead bankers to personally sign confidentiality pacts and pressing some investors to explain why they should be allowed to attend marketing meetings, sources familiar with the matter said.

In doing so, Ant is following a highly unusual process that draws on some of the tactics its former parent and affiliate Alibaba Group Holding Ltd BABA.N previously used.

Other unique measures taken by Ant include dividing up the underwriting work for what could be a $35 billion offering among several banks such that no one firm has the full picture of the process, four sources with direct knowledge of the matter said.

Three of the sources said the main underwriters are also discouraged from working on assignments

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