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Ciudad Juarez, Chihuahua,- Applying the new provisions dictated by Hacienda (Ministry of the Treasury) to restrict deposits in US Dollars in cash at the border has already started causing damage. Losses for US$50 million are reported, considered flight of capital.
In addition, bank accounts opened in US cities at the border with Mexico have increased by up to 48%, Mario Escamilla Novelo, Canacintra’s Maquiladoras and Border Strip Vice-president, affirmed. “Companies’ financial management was deadly limited. A 48% increase in accounts opening was posted in the USA, flight of capital, which damages Mexico badly. Mexican Banks Association and Public Accountants College informed there were effects on the very first day for US$10 million not coming to Mexico”, he said.
Mario Escamilla said it did not take 90 days to start feeling the negative effects of this measure, which shows that federal officers keep on making decisions unaware of the situation that prevails in northern Mexico.