Mexico Sees Drop in Homicides Amid Banking Crisis and USMCA Concerns
Mexico City – Mexico experienced a decline in daily homicides to a nine-year low this week, even as the country’s financial sector faced turmoil with the liquidation of CIBanco following U.S. money laundering accusations, and concerns mount ahead of upcoming USMCA negotiations.
The Sheinbaum administration reported a 9.1% increase in government revenue through the first nine months of 2025, reaching 4.63 trillion pesos ($251.7 billion), providing a financial cushion during a period of moderate economic growth. Finance Minister Édgar Amador Zamora attributed the increase to improved foreign trade tax collection and anti-corruption efforts, stating, “Thanks to that … it has been possible to have very, very solid growth of public income, amid an economic context in which [GDP] growth has been a little more moderate.” Despite this positive economic news, five popular tourist destinations – including San Miguel de Allende – remain among Mexico’s 50 most violent municipalities, raising questions about localized security challenges.
The most dramatic development of the week was the closure of CIBanco, revoked by IPAB following U.S. Treasury Department sanctions alleging the bank laundered millions for drug cartels. Account holders are now scrambling to recover funds, with insured deposits to begin being paid out starting Monday; those without existing Mexican bank accounts will need to visit branches or IPAB offices in person. This closure, alongside restrictions on Vector and Intercam, highlights the potential for illicit financial activity within the Mexican banking system and could impact foreign investment. For more information on navigating financial regulations in Mexico, visit the Bank of Mexico website.
Looking ahead, Mexico faces potentially difficult negotiations regarding the USMCA trade agreement, with U.S. Trade Representative Jamieson Greer questioning Mexico’s compliance with commitments in energy, telecommunications, and agriculture. President Sheinbaum expressed confidence that most issues can be resolved, but Greer’s comments suggest a challenging path forward. The outcome of these negotiations will significantly impact the economic relationship between the U.S. and Mexico, and could influence nearshoring trends. Meanwhile, six Mexican activists detained by Israeli forces have safely returned home, reinforcing Mexico’s support for Palestine and its commitment to international diplomacy, as detailed in this report.
Officials stated that they expect to continue working to address concerns raised by the U.S. and to ensure the stability of the financial sector.
