About this work
El Economista cites Jonathan Fortun of the IIF for the estimate that foreign holdings of Mexican debt fell from 28% of the total in December 2019 to 11.5% by mid September. He also warned that the shift toward local holders removes an external safety net, since local holders forced to sell in a stress episode, such as trouble with the peso or the USMCA, would no longer be cushioned by foreigners. He called this a concern but not the most probable scenario.