May 8, 2013 / 11:18 PM / 5 years ago

Mexico bank reform could add 0.5 pts to GDP in 2-3 years-Carstens

MEXICO CITY, May 8 (Reuters) - Mexico’s central bank governor Agustin Carstens said on Wednesday a financial reform aimed at boosting credit could add 0.5 percentage points to growth in Latin America’s No. 2 economy in two to three years.

The reform, presented by President Enrique Pena Nieto earlier in the day, is “well rounded” by promising to both boost private sector lending and strengthening prudential standards, he added.

Carstens added that the local peso was still undervalued against the dollar compared to pre-2008 crisis levels, even as the currency has pushed below the key 12 per dollar level.

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