To be fair to Agustin Carstens (up until late last week Mexico's FinMin and now slated to take over at the Central Bank) he's one of the very, very few finance peeps in LatAm governments who knows what the hell he's talking about and is good at his job.
But still: FAIL
Dec. 8 (Bloomberg) -- Mexican Finance Minister Agustin Carstens said he expects Standard & Poor’s to decide against lowering the country’s credit rating after the government raised taxes and cut spending to contain its yada yada continues here
Dec. 14 (Bloomberg) -- Mexico’s credit rating was cut one level by Standard & Poor’s after tumbling oil output and the worst recession since the 1930s swelled the budget deficit. S&P lowered Mexico’s foreign-currency debt rating to BBB, the second-lowest investment grade, from BBB+, with a stable outlook. The cut follows yada yada continues here
x