Elected Mexican President cancels Bank fees

© AP Photo / Moises CastilloЛопес Obrador. Archival photoElected Mexican President cancels Bank fees© AP Photo / Moises Castillo

Elected President of Mexico, andrés Manuel lópez Obrador reassured on Friday the exchange and the markets, having declared that does not agree with the proposal to abolish Bank fees.

Earlier, the party «Morena», which belongs to the future President proposed to amend the law, which forbid the banks to take a Commission percentage for the conduct of certain operations. Then on Thursday, the Mexican stock exchange fell by almost 6%.

«During the campaign I stated that we will not carry out any reforms in the tax area in the first half of the period of our government,» said Lopez Obrador at a press conference in Mexico city. He takes office as President on 1 December for a period of six years.

According to him, a few days ago he met with the leadership of the Bank of Santander and also stated that there will be changes in the rules of the banks.

Exchange immediately reacted to statements of the future President. If at the end of the first half of day the index of the Mexican stock exchange’s IPC was down 2.9%, after the statement Obrador, he instantly rose, and remained almost unchanged in comparison with the figures Thursday, falling only 0.46%.

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