| | |  Business News 
Mexico Minister Says Drug War Not Hitting Investment
 Tomas Sarmiento -
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October 04, 2010
| | Finance Minister Ernesto Cordero (Presidencia de la República) | |
Mexico City - Mexican Finance Minister Ernesto Cordero said on Sunday there is no evidence that Mexico's escalating drug war is discouraging foreign investment or interfering with the country's economic recovery.
Investors, tourists and the U.S. government have been worried by an expanding wave of cartel executions and gun battles in Mexican towns and cities, as well as increasing attacks on public officials.
"Up until now, there is no evidence that this is stopping the level of investment that is arriving to Mexico," Cordero told a press conference, referring to flows of funds into financial markets as well as investment in assets like factories.
Drug violence has killed more than 29,000 people since late 2006 when President Felipe Calderon took office and deployed the army to challenge drug cartels in areas that the gangs have long controlled.
But the death toll is still rising as Mexico struggles to get its economy back up to speed after the global economic crisis knocked it into the worst recession since the 1930s.
The northern business city of Monterrey saw four grenade attacks this weekend, but only injuries were reported. Police also investigated the reported kidnapping of 20 Mexican tourists in the Pacific resort of Acapulco.
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