Introduction to the Situation
Mexico, represented by Secretary of Finance and Public Credit Edgar Amador Zamora, has reaffirmed its commitment to the Group of Action Financial International (GAFI) to continue combating financial crimes. This pledge was made during the Fifth Plenary Meeting of GAFI.
Mexico’s Support for GAFI Recommendations
During the meeting, Amador Zamora emphasized that Mexico will implement GAFI’s recommendations to protect financial integrity and strengthen the framework for preventing and combating financial crimes. He highlighted that inclusivity is crucial to expand relevant jurisdictions and actors, ensuring GAFI’s standards reflect diverse contexts and realities of its member countries.
Importance of Financial Inclusion
Amador Zamora stressed that financial inclusion is a national priority in Mexico. He acknowledged GAFI’s respected reputation for technical rigor, consensus-building among members, and leadership in developing high-quality standards. GAFI plays a vital role in safeguarding the international financial system’s integrity.
Mexico’s Continued Support for International Cooperation
The Mexican government, through Amador Zamora, emphasized the importance of technical dialogue and international cooperation as the most effective means to build joint solutions for complex challenges. This commitment underscores Mexico’s dedication to working alongside GAFI and other international partners in the fight against financial crimes.
Key Questions and Answers
- What is GAFI? The Group of Action Financial International (GAFI) is an intergovernmental organization founded in 1989 that sets standards and promotes effective practices for combating money laundering, terrorist financing, and other related threats to the integrity of the international financial system.
- Why is Mexico’s commitment to GAFI important? Mexico’s pledge to implement GAFI recommendations demonstrates its dedication to protecting financial integrity, combating financial crimes, and fostering international cooperation.
- What is financial inclusion? Financial inclusion refers to the process of ensuring access to appropriate, affordable, and quality financial services for all individuals and businesses, including the unbanked and underbanked.
- Why is financial inclusion a priority for Mexico? Financial inclusion is essential for promoting economic growth, reducing poverty, and ensuring equitable access to financial services for all Mexican citizens.
- How does Mexico’s support for GAFI impact others? By working closely with GAFI and other international partners, Mexico contributes to the global fight against financial crimes, setting a positive example for other countries and fostering a more secure international financial system.
