Mexican Economy Will Weather U.S. Housing Slump, Carstens Says

“Mexicos Finance Minister Agustin Carsten’s said that a U.S. housing slowdown and losses incurred by subprime mortgage lenders wont damp growth in Latin Americas second-biggest economy.

Carstens, attending the Inter-American Development Banks annual meeting in Guatemala City, said the shock from a financial crisis in 1994 helped Mexico build a more resilient banking sector that has weathered concern about defaults among U.S. subprime-mortgage lenders this year.”

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