[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-326676-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-326676-en":131},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","international-financial-news-survey-vol22-no40","INTERNATIONAL FINANCIAL NEWS SURVEY - Vol.22, No.40","","International Financial News Survey covers key monetary and economic developments, focusing on Mexico and Ireland. In Mexico, the sixth and final presidential report to Congress reviews growth, investment, fiscal policy, income distribution, reserves, public and foreign debt, and banking obligations for 1964–1969 and into 1970. It also summarizes the international bond market, including new issuance volumes, currency preferences, yields, and factors behind September’s rebound. 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1970?","Question",{"text":63,"@type":64},"Mexico’s President submits his final report to Congress, and a new government is set to take office on December 1 under President-elect Luis Echeverría Álvarez.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How does the document describe Mexico’s economic growth and supporting conditions from 1964 to 1969?",{"text":68,"@type":64},"Mexico’s real GDP grows at an average annual rate of 7%, supported by high investment and a climate of financial stability, with particular strength in industry.",{"name":70,"@type":61,"acceptedAnswer":71},"What is the basis for Ireland’s emergency scheme to finance essential imports?",{"text":72,"@type":64},"The Irish Central Bank scheme provides special loans to applicants who show no alternative payment means exist and that production and employment are threatened if the imports cannot proceed; it is financed by nonassociated 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SURVEY\n\nVol.XXII,No.40  \n# INTERNATIONAL MONETARY FUND\n\nEconomic Developments in Mexico  \nOn September 1 the President of Mexico,GustavoDíaz Ordaz,submitted to Congress his sixth and lastreport on activities in the country during his term ofoffice.On December 1 a new government will takeoffice under President-elect Luis Echeverríia Alvarez.  \nThe President noted that Mexico's economic growthhad continued at a remarkable pace,supported by highinvestment in a climate of financial stabilityFrom 1964to 1969,Mexico's real gross domestic product grew atan average annual rate of 7 per cent:industry hadshown the most dynamic growth,followed by com-merce,transport and communications,and agriculture.Real per capita income reached Mex$5,718(US$457)in 1969,an increase of 18.4 per cent since 1964.At thesame time,the wholesale price index had risen at anaverage annual rate of 2.1 per cent.  \nOn August 31,1970,the Bank of Mexico's interna-tional reserves amounted to the equivalent of US$762million(including US$47.4 million of SDRs);this wasUS$111 million higher than a year earlier and US$213million above the total at the end of August 1964.Inaddition,the President pointed out,Mexico has second-ary lines of reserves consisting of the US$100 millionand US$130 million reciprocal credit arrangements withthe U.S.Treasury and the Federal Reserve System,respectively,as well as the country's credit facilities inthe International Monetary Fund.Mexico's quota inthe Fund is the equivalent of US$270 million.  \nBetween 1964 and 1969,foreign public debt with amaturity of more than one year rose by 61 per cent,to Mex$36.4 billion.Public enterprises in the fields ofelectricity,petroleum,railroads,air transportation,andsteel accounted for 66 per cent of this debt outstandingat the end of 1969.  \n## International Bond Market\n\nAfter rising during July and falling during August,the volume of new international bond issues reboundedsharply in September.Issues outside the United Statesare estimated at $721 million for the third quarter of1970:$250 million in July,$112 million in August,and $359 million(according to preliminary statistics)in September.The estimated volume for the first threequarters of 1970 is $2,110 million,compared with  \n$3,677 million and $2,907 million for the first three  \nOctober 9,1970  \nIn his address to Congress,the President noted thatfiscal policy had been designed to stimulate the invest-ment,particularly by the private sector,that was re-quired to maintain a high rate of economic growth.Fiscal policy had also promoted exports and at thesame time discouraged imports of consumer goods,inan attempt to ease the balance of payments deficit,andhad helped to improve the distribution of income byincreasing the share of wages and salaries in the nationalincome.  \nTaxpayers numbered more than 10 million in August1970,about double the number in December 1964.Between 1964 and 1969,income tax collections hadexpanded at an average annual rate of about 14 percent,and the share of these proceeds in total budgetaryrevenue had risen from 42.1 per cent to 46 per cent.Expenditure by the Federal Government had increasedat an average annual rate of 12.3 per cent,to Mex$35.6billion for 1969.Special attention had been given tocontrolling the growth of current government expendi-ture in order to increase savings,which had grown atan average annual rate of 14.1 per cent while the ratefor current expenditure had been about 11.4 per cent.During the same period,investment had grown at anaverage annual rate of 14.7 per cent.  \nObligations of the banking system amounted to morethan Mex$190 billion on August 31,1970,register-ing an average annual growth rate of 17.3 per cent since1964.Bank credit to the Federal Government,supple-menting other sources of funds to finance investmentprograms in the public sector,totaled Mex$43.9 billionon August 31,compared with Mex$10.3 billion sixyears earlier.  \nSource:Hispano Americano,Mexico City,Sept","cbCaishUz6Bhf3C7","https://ap.wps.com/l/cbCaishUz6Bhf3C7","pdf",4099943,"English","# INTERNATIONAL MONETARY FUND\n## Economic Developments in Mexico\n## International Bond Market\n# Scheme for Financing Imports in Ireland","[{\"question\":\"What changes in Mexico’s government are highlighted for September 1970?\",\"answer\":\"Mexico’s President submits his final report to Congress, and a new government is set to take office on December 1 under President-elect Luis Echeverría Álvarez.\"},{\"question\":\"How does the document describe Mexico’s economic growth and supporting conditions from 1964 to 1969?\",\"answer\":\"Mexico’s real GDP grows at an average annual rate of 7%, supported by high investment and a climate of financial stability, with particular strength in industry.\"},{\"question\":\"What is the basis for Ireland’s emergency scheme to finance essential imports?\",\"answer\":\"The Irish Central Bank scheme provides special loans to applicants who show no alternative payment means exist and that production and employment are threatened if the imports cannot proceed; it is financed by nonassociated banks.\"}]","INTERNATIONAL FINANCIAL NEWS SURVEY - Vol.22, No.40 | PDF",1789975064,23]