LatinNews Daily - 30 May 2017

*Mexico’s and Colombia’s finance ministers, José Antonio Meade Kuribreña and Mauricio Cárdenas respectively, announced the signing of a new bilateral Memorandum of Understanding under which both governments agreed to facilitate the investment of Mexican pensions in Colombian capital markets. The ministers said that the agreement signed between Colombia’s financial superintendence and Mexico’s national pension fund system’s commission (Consar) would allow, for the first time, Mexican pension fund administrators (Afores) to invest in Colombian securities without having to pay any taxes. Noting that the deal is similar to that already in place between Colombia and Peru and Colombia and Chile, the ministers said that it constitutes another step forward in the financial integration of the Pacific Alliance regional trade bloc.

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