Business Services Industry
World Bank criticizes Mexican subsidies.
Internet Securities, May, 2002
MEXICO CITY, May 21, 2002
The director of the World Bank in Mexico, Colombia and Venezuela, Oliver Lafourcade, has criticized the mechanisms used in Mexico to grant subsidies, which he says have benefited the rich and not the poor. He also said that the policies for granting lands are cumbersome, there is no liquidity in the real estate market and the regulations for administrating urban lands are too centralized. Lafourcade said that Mexico's outlook is quite positive, although the difficulties must be recognized. He said Mexico's system of communal lands is outdated and should change, since land ownership must be assured in order to attract investment to the rural sectors. Lafourcade clarified that the World Bank is not opposed to subsidies, but does not...
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