Mexico spends less on education than other OECD countries

Mexico ranks last among per capita last in annual spending per student among OECD countries. (Reuters)
Mexico ranks last among per capita last in annual spending per student among OECD countries. (Reuters)


The Mexican government ranks last in annual spending per student among the Organisation for Economic Co-operation and Development countries, according to a new report made public on Tuesday.

The OECD report, “Education at a Glance 2015,” also revealed that Mexico spends less then $4,000 per student compared to the OECD average of around $10,000.

The findings come despite seeing an increase in investment towards education as a percentage of the country’s GDP, which rose from 4.4 percent in 2000 to 5.2 percent in 2012.

The OECD survey went on to warn that inequalities in education produce serious consequences as on economic and social inequalities due to “its strong links to employment, earnings, overall wealth and the well-being of individuals.”

Tropical storm Sandra forms off Mexico coast

Weather Channel – Tropical Storm Sandra became the eighteenth named storm of the 2015 eastern Pacific hurricane season early Tuesday morning. Not only is Sandra one of the latest named storms on record, but it’s also expected to become an exceptionally rare late-season hurricane, and, while weakening, may limp ashore in Mexico this weekend.

Go ahead, sell the peso; Mexico doesn’t care

Bloomberg – By most traditional economic gauges, little is going right today for Mexico. Growth is sluggish, oil exports are falling and credit markets have started to dry up. Yet beneath the surface, a surprising and little-understood transformation is ushering in one of the country’s most important developments in years: the peso’s age-old link with inflation has been broken.

Delta tenders cash offer for bigger state in AeroMexico

Airways News – Delta Air Lines tendered a cash offer for an additional 32 percent stake in AeroMexico, building upon its existing 4.1 percent ownership of the company and purchase options for an additional 12.7 percent ownership shared with a pension trust for Delta’s employees.

Oil deal of the year: Mexico set for $6 billion windfall

Mexico locked in 2015 oil sales at $76.40 a barrel with banks.
Mexico locked in 2015 oil sales at $76.40 a barrel with banks.

By Javier Blas / Bloomberg

Mexico is set to get a record payout of at least $6 billion from its oil hedges this year, according to data compiled by Bloomberg.

The Latin American country locks in oil sales as a shield against price declines through a series of financial deals with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. For 2015, Mexico guaranteed sales at almost $30 a barrel higher than average prices over the past year.

The 2015 payment, due next month, is set to surpass the record from 2009, when the Mexican government said it received $5.1 billion after prices plunged with the global financial crisis. The country’s crude has fallen by almost half over the hedging period so far this year. Crude sales historically cover about a third of the government budget.

“The windfall is huge,” said Amrita Sen, chief oil analyst at Energy Aspects Ltd., a London-based consulting company. “This gives Mexico breathing space.”