MEXICO FUND INC — Director's Dealing 2007

May 2, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MEXICO FUND INC (MXF)
CIK: 0000065433
Period of Report: 2007-04-27

Reporting Person: Gomez Pimienta Jose Luis (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-27	Common Stock	X	35528	$38.89	Acquired	142112	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-27	Rights	$38.89	X	106854	Acquired	2007-04-20	3 rights for every 1 share (35528)	Indirect

Footnotes

F1: Rights holders who were shareholders on the Record Date and who fully exercised the rights they obtained in the primary subscription were entitled to an over-subscription privilege under which they may subscribe for additional shares of common stock at the Subscription Price. The shares of common stock shown on this Form 4 exclude the number of shares of common stock acquired pursuant to the over-subscription privilege to which the reporting person was entitled under the Rights Offering, which amount is still not determinable as of this date.

F2: The shares listed under Item 4 of Table I were acquired through subscription in the issuer's one-for-three rights offering. Shares issued pursuant to the exercise of 106,854 rights issued to Impulsora del Fondo M?xico, S.C. were acquired on April 27, 2007. This Form 4 is filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, as amended ("Exchange Act"), to report the purchase of 35,528 shares by Impulsora del Fondo Mexico, S.C. ("Impulsora"), the Issuer's Investment Adviser, which may be attributable to Mr. Gomez Pimienta, as a result of Exchange Act Rule 16a-1(a)(2)(iii). Mr. Gomez Pimienta is the President and Chief Executive Officer of Impulsora and owns almost 24% of its capital. Nevertheless, pursuant to Exchange Act Rule 16a-1(a)(4), Mr. Gomez Pimienta disclaims beneficial ownership of the securities of the issuer held by Impulsora.