Govt., businesses should utilize reserves.

MEXICO CITY, Jun 23, 2003 (El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Both the government and businesses in Mexico should turn to their reserves to stimulate the economy instead of waiting for the United States to pick up Mexico once its recovery begins, said Jorge Pinto, the director of the Center for Global Financial Studies at Pace University in New York. He said that all financial entities should invest and save according to the economic cycles.Visiting Mexico to present an eight-volume collection of articles called Economia y Finanzas, he blamed the current situation on the failure of investors to heed warnings of Alan Greenspan against "irrational exuberance". He said that in times such as the present, the focus should be on strong growth, albeit it limited. While the current crisis could not have been averted, Mexico should have been better prepared for it by relying less on the United States. He presented the eight volumes as an opportunity for Mexican investors and businesspeople to learn more about how to operate in the globalized environment, with articles about the Great Depression, the history of the New York Stock Exchange and the Wall Street culture of success. This article has been translated by Internet Securities, Inc. as a service to its customers. Internet Securities, Inc. makes no representation or warranty regarding the accuracy or content of the translation.

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