Mexico’s Finance Minister Ernesto Cordero has requested the nation’s banks to come forward to help Mexico’s economy recovery by increasing lending.

While talking to media, the minister said, “The banking system is well capitalized, has no systemic risks and has the ability to boost lending.”

Cordero accepted his new role on Wednesday when Mexican President Felipe Calderon rearranged the cabinet.

In the meantime, Agustin Carstens was most likely to become the governor of the Mexican Bank soon after being sanctioned by the nation’s upper legislative house.

Talking to reporters, the finance minister said, “Happily, the bulk of political sectors in the nation are in favor of a fiscal reform.”

Further, the finance minister added, “But we must wait until January to make agreements and enter more specific details. I will do everything possible to achieve the best possible rates of growth next year.”

He also said that the country desperately required hiking the tax revenue from the nation’s major corporations as it overly depended on oil revenues and many large corporations pay little or no taxes.

The economy of the country has declined by 10.3 percent in the second quarter as compared with a year earlier. But, the Mexican economy recovered 3% in the third quarter as compared with the same period in the last year, being 6.2% less than the last year.