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This book analyses debt management in subnational governments in Mexico via quantitative and qualitative methods of research. Particularly, the project initiates the much-needed discussions on the role that subnational governments in Mexico can play in the financing of infrastructure, as well as the challenges and opportunities associated with their participation in capital markets. The author includes interviews with state leaders to corroborate the statistical analysis created and generated with the federal municipal and state databases. Case studies include: four states-Nuevo Leon, Guanajuato, the State of Mexico, and Mexico City-and three major metropolitan areas-Leon, Guanajuato, and Monterrey. Interviews with these key financial players, not only at the federal level but also at local level, in their interpretation, usability and access of the current financial models are assessed and help to explain the current financial state of Mexico.