The GNPAs ratio had steadily declined from 15.7 per cent in 1996–97 to 2.35 percent in 2010–11. However, as fallout of the global financial crisis and the consequent headwinds from many advanced nations in the west, the GNPAs have risen to 2.94 per cent as on March 2012 and further to 3.42 per cent as at the end of March 2013.
Then, I will briefly explore some struggles that policy makers face in the aim of promoting efficiency and economic expansion. Finally, I would like to address challenges to higher long-term economic growth in Mexico. As usual, my remarks are entirely my own and do not necessarily reflect those of the Bank of Mexico or its Governing Board.