Claudia Sheinbaum criticizes Fobaproa debt burden on Mexico

President Claudia Sheinbaum has criticized the ongoing financial burden of the Fobaproa debt, now managed by the Institute for the Protection of Bank Savings (IPAB). She stated that approximately 50 billion pesos are allocated from the public budget every two years to cover only a portion of the interest on this debt.

Sheinbaum explained that the current mechanism is insufficient to reduce the principal, as additional debt must be contracted to cover the remaining capital and interest. She noted that her administration has implemented measures to prevent banks from deducting their IPAB contributions from their taxes.

During her remarks in Jalisco and Colima, the President characterized the bailout as an unpayable debt acquired during the neoliberal era. She also announced that construction for the Mexico City-Guadalajara train is scheduled to begin in 2027.