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Mexico City— Mexico climbed 13 positions in the ranking of economic environment for business in the developing world, to reach 10 out of 55, according to a study by The Economist Intelligence Unit.
Mexico’s progress in this ranking is mainly due to a more transparent mechanism to set interest rates for microcredits and better rules to solve conflicts.
The study Global Microscope 2011 ranks Peru as first in its list of 55 emerging countries, speaking highly about its juridical framework and easy access to financing by the poorest people.
“Eight from the first 12 countries, based on their general classification, are in Latin America”, the study says.
The number of entities devoted to micro-finance, which grant small credits with high interest rates to low-income people, has grown in the last few years in Latin America.