The Mexican government has been preparing a financial contingency plan should Donald J. Trump win on November 8.
Mexico’s economy has seen some fluctuation connected to the U.S. elections as the possibility of a Trump victory escalates, said Agustin Carstens during a broadcasted conference as the Governor of Mexico’s National Bank.
Cartsens has been outspoken against Trump in the past, claiming that his victory would be akin to a hurricane with respect to the financial instability that it would presumably bring to Mexico.
According to Mexico’s El Economista, Carstens claimed that regardless of who wins the U.S. elections, Mexico could see a period of volatility.
“Without a doubt, the adverse scenario presents itself,” Carstens told El Economista.
Carstens has been in talks with Mexico’s Mexico’s Secretary of Finance in order to prepare a contingency plan, yet the details of the plan have not been disclosed.
“Regardless of the results there will be consequences, I hope they are positive but they could be negative and in such case we would have to adjust our policies if needed,” El Economista quoted Carstens.
Carstens took control of the Bank of Mexico in 2010, prior to that he was the Secretary of Finance. The Mexican economist has overseen the nosedive of the Mexican currency from roughly $10 Pesos per U.S. Dollar in 2006 when he assumed his role as Secretary to the current level of $19.55 Pesos per U.S. Dollar.