Mexico receives presidency of the Central American Bank for Economic Integration – El Sol de México

Mexico assumed the presidency of the Assembly of Governors of Central Banks of the Central American Bank for Economic Integration (CABEI) for the next year.

Gabriel Yorio, Undersecretary of Finance of the federal government, was elected to the position in his role as governor of the financial institution in Mexico.

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The appointment was made within the framework of Mexico’s 30 years as a member of CABEI, a financial institution of the Central American Integration System (SICA).

Yorio stressed that the purpose of this institution is to mobilize resources in the region given the limitations of institutions such as the Inter-American Development Bank (IDB) and the World Bank (WB).

The event was attended by finance ministers from Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Belize and the Dominican Republic, all of them CABEI governors in their countries, in addition to the Finance Secretary of Yucatan, Olga Rosas Moya, as hostess, as well as the executive president of CABEI, Dante Mossi.

“Another advantage that CABEI has is that the partner countries share a vision and values, and it is not subject to conditionalities dictated by consensus that are not aligned with the challenges and realities of our region,” Yorio stressed.

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Mexico concentrates 19.2 percent of the institution’s historical bond transactions, with an amount of two thousand 821 million dollars in 24 issues since 2007, the largest amount registered by the bank.

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