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LatinNews Daily - 05 July 2017
In brief: Mexico
*The head of the social security institute (IMSS), Mikel Arriola, has reported that the entity now boasts M$45bn (US$2.47bn) in liquid reserves thanks to the financial discipline programme implemented by the government since 2014. Arriola, who was appointed IMSS head in 2016, noted that back in 2014 the IMSS reported to the federal congress that it had no liquid reserves left and that it would have to review its operations in order to avoid bankruptcy. Arriola said that since then the adopted changes promoting financial probity and restraint have helped to radically improve the situation. However, Arriola warned that IMSS could still face bankruptcy if the financial restructuring programme is not continued following next year’s general elections.
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