As a result of the adverse economic effects caused by the measures to prevent the spread of COVID-19, the Mexican Banks Association (“ABM”) issued a statement on March 23, disclosing that banking institutions have determined to support their clients who are unable to meet their credit obligations by implementing various support programs.
By order of President Andrés Manuel López Obrador, a general resolution was issued in order to establish several measures regarding the worrying situation that is the spread of the COVID-19.
