Press Releases 07
U. S. Treasurer Anna Cabral’s Visit to Mexico Highlights
Cooperation for Access to Financial Services
Financial Inclusion Helps Eliminate Poverty
Statement by Ambassador Antonio O. Garza
Mexico City, August 1, 2007 – “Currently, the Mexican financial
system works well, but only for the few: less than 40% of
Mexicans have access to financial services. These services,
which provide saving and credit opportunities, are the pillars
of financial independence. Bringing these services to everyone
throughout Mexico is critical for supporting social and economic
development, eliminating poverty, and encouraging entrepreneurship.
“U.S. Treasurer Anna Cabral’s visit highlights the need to
bring basic financial services to millions of individuals
and their families who remain outside of mainstream financial
institutions in the Western Hemisphere.
“In a seminar today Treasurer Cabral launched the Treasury
Department’s regional initiative focused on bringing basic
financial services to the citizens of Mexico, El Salvador,
Guatemala, and Honduras. Co-hosted by Mexico’s Secretariat
of the Treasury and attended by Under Secretary Alejandro
Werner, the seminar ‘Financial Inclusion in Mexico’ brought
together representatives from the U.S. and Mexican governments,
academia, and the private sector, including both commercial
bankers and microfinance institutions.
“The bilateral conference highlighted Mexico’s needs and
efforts in the financial sector, and participants explored
successful programs and activities that are helping people,
even in some of the poorest sectors. The conference also addressed
trends in expanding financial services, including microenterprise
initiatives, mortgages, insurance, and savings.
“The Embassy, through its Agency for International Development
(USAID), is working to strengthen financial institutions in
Mexico by facilitating the flow of remittances, and assisting
a wide range of partner financial institutions to expand and
improve services to those who need them the most.” |
