Bloomberg: Mexico ‘Better Prepared’ for Europe Debt Crisis Than Peers, Rodriguez Says

To protect its economy from the effects of the European debt crisis, Mexico is increasing efforts to keep money in the country, stated Deputy Finance Minister Gerardo Rodriguez.

“We are a lot better prepared, especially relative to other countries, for a situation that could deteriorate externally,” said Rodriguez, 38. “All this points to a broad framework of creating additional spaces for a potential adverse scenario going forward. That’s what we are here for -- to prepare for negative scenarios.”

Mexico is unique; China to Brazil raise borrowing costs to combat inflation, but Mexico is the only major Latin American country that hasn’t raised rates this year. The annual inflation rate in the country a five-year low in March at 3.04 percent.