Iván Pliego, head of Consar, commented in an interview with Expansión within the framework of the Banking Convention that this measure will be extended until June and then a way to do it longer will be seen.
Last year, with accumulated losses of 215.477 million pesos in the Afores, the regulator headed by Pliego decided to make it impossible for workers to change Afores to prevent workers from losing money.
In January, the Afores once again registered capital losses of 121.117 million pesos, breaking a streak of four consecutive months of capital gains.
Why were there handicaps?
In 2022, global inflation accelerated to two- and four-decade highs, forcing central banks to raise interest rates to try to contain it. In the case of Mexico, August and September were the months with the highest inflation of 8.7%.
To offset the rise in prices, the Bank of Mexico (Banxico) raised the rate to 10.5%, a level never seen before.