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SIGNATURE ALBERTO OSORIO
TITLE TREASURER
Sub-Item 77K
(a)(i) The Principal Executive Officer and Principal Financial Officer of
The Mexico Fund, Inc. (the "Fund") have evaluated the disclosure
controls and procedures (as defined in Rule 30a-2(c)) of the Fund
within 90 days of the filing date of this Form N-SAR and they
believe that the disclosure controls and procedures are effective.
(a)(ii) There have been no significant changes in the Fund's internal
controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation, including any
corrective actions with regard to significant deficiencies and
material weaknesses.
(a)(iii) CERTIFICATIONS
I, Jos? Luis G?mez Pimienta, certify that:
1. I have reviewed this report on Form N-SAR of The Mexico Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial information included in this report,
and the financial statements on which the financial information is based,
fairly present in all material respects the financial condition, results
of operations, changes in net assets, and cash flows (if the financial
statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:
a) designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
b) evaluated the effectiveness of the registrant?s disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
report (the "Evaluation Date"); and
c) presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5. The registrant?s other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant?s auditors and the audit
committee of the registrant?s Board of Directors (or persons performing
the equivalent functions):
a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant?s ability to record,
process, summarize, and report financial data and have identified for the
registrant?s auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal
controls; and
6. The registrant's other certifying officers and I have indicated in this
report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.
Date: 12/26/02 /s/ Jos? Luis G?mez Pimienta__
Jos? Luis G?mez Pimienta
Principal Executive Officer
I, Alberto Osorio, certify that:
1. I have reviewed this report on Form N-SAR of The Mexico Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
3. Based on my knowledge, the financial information included in this report,
and the financial statements on which the financial information is based,
fairly present in all material respects the financial condition, results
of operations, changes in net assets, and cash flows (if the financial
statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:
a) designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
b) evaluated the effectiveness of the registrant?s disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
report (the "Evaluation Date"); and
c) presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5. The registrant?s other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant?s auditors and the audit
committee of the registrant's Board of Directors (or persons performing
the equivalent functions):
a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant?s ability to record,
process, summarize, and report financial data and have identified for the
registrant?s auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant?s internal
controls; and
6. The registrant's other certifying officers and I have indicated in this
report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.
Date: 12/26/02 /s/ Alberto Osorio__
Alberto Osorio
Principal Financial Officer
The Mexico Fund, Inc.
N-SAR Disclosure for Change in Accountants
Item 77K: Change in Registrant?s Certifying Accountant
Effective May 6, 2002, based on the recommendation of the Fund's Audit
Committee, the Fund's Board of Directors determined not to retain Arthur
Andersen LLP ("Arthur Andersen") as the Fund's independent auditors.
Arthur Andersen's reports on the Fund's financial statements for the fiscal
years ended October 31, 2001 and October 31, 2000 contained no adverse opinion
or disclaimer of opinion nor were they qualified or modified as to
uncertainty, audit scope or accounting principles. During the Fund's fiscal
years ended October 31, 2001 and October 31, 2000 and the interim period
commencing November 1, 2001 and ending May 6, 2002, (i) there were no
disagreements with Arthur Andersen on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or procedure,
which disagreements, if not resolved to the satisfaction of Arthur Andersen,
would have caused it to make reference to the subject matter of the
disagreements in connection with its reports on the Funds' financial
statements, and (ii) there were no "reportable events" of the kind described
in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of
1934, as amended.
On May 6, 2002, the Fund by action of its Board of Directors engaged
PricewaterhouseCoopers LLP ("PwC") as the independent auditors to audit the
Fund's financial statements for the fiscal year ending October 31, 2002.
During the Fund's fiscal years ended October 31, 2001 and October 31, 2000
and the interim period commencing November 1, 2001 and ending May 6, 2002,
neither the Fund or anyone on its behalf has consulted PwC on items which
(i) concerned the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Fund?s financial statements or (ii) concerned the
subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of
Regulation S-K and the related instructions) or reportable events
(as described in paragraph (a)(1)(v) of said Item 304).
Pursuant to Item 304T of Regulation S-K, after making reasonable efforts to
obtain a letter from Arthur Andersen stating whether it agrees with the
statements contained above, Registrant has not been able to acquire such a
letter.
Report of Independent Accountants
To the Board of Directors and Shareholders
of The Mexico Fund, Inc.
In planning and performing our audit of the financial statements of
The Mexico Fund, Inc. (the "Fund") for the year ended October 31, 2002,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, not to provide assurance
on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an
audit pertain to the entity?s objective of preparing financial statements
for external purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that controls may become
inadequate because of changes in conditions or that the effectiveness of
their design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not
reduce to a relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be detected within
a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal
control and its operation, including controls for safeguarding securities,
that we consider to be material weaknesses as defined above as of
October 31,2002.
This report is intended solely for the information and use of the Board
of Directors, management and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.
PricewaterhouseCoopers LLP
New York, New York
December 4, 2002