Seeking to improve understanding, communication, and cooperation between Mexico and the United States by promoting original research, encouraging public discussion, and proposing policy options for enhancing the bilateral relationship.
6/25/19 – New York Times
By Rebekah F. Ward
Mexico’s oil regulator on Tuesday approved a $97 million (£76.4 million) plan for drilling in an offshore area operated by British supermajor BP in the southern Gulf of Mexico.
The four-year exploration plan approved by the national hydrocarbons commission (CNH) covers a 700,000 square kilometre shallow water block, located north of the coast of Tabasco state.
5/29/2019 – Bloomberg
By Nacha Cattan and Eric Martin
Mexico’s central bank cut its growth forecast for this year, opening the door to the possibility that Latin America’s second-largest economy will expand less than 1% amid weak industrial production.
5/22/2019 – Reuters
By Daina Beth Solomon
IKEA, the world’s largest furniture seller, will open its first store in Mexico next year and plans to launch other stores around the country, the company said on Wednesday, as it expands in Latin America to counter growing competition in its core U.S. and European markets.
5/20/2019 – Associated Press
Mexico President Andrés Manuel López Obrador says that the government is ending tax forgiveness, which for years had been a gift to the country’s biggest taxpayers. According to the government, the pardons were abused under the previous administrations of Felipe Calderón and Enrique Peña Nieto to the tune of more than $15.5 billion uncollected since 2007.
5/17/2019 – Reuters
MEXICO CITY (Reuters) – Mexico’s central bank on Thursday said wage increases have outstripped productivity gains in some sectors, posing risks to inflation and employment, as it held its benchmark interest rate steady.
The Bank of Mexico’s (Banxico) board members voted unanimously to hold the overnight interbank rate at 8.25 percent, the level it has been at since Dec. 20. The rate is presently at its highest level since 2008.
5/16/2019 – Bloomberg
By Amy Stillman
Mexico’s state oil company is set to receive added tax breaks to help reverse long-term production declines and avoid tapping the nation’s rainy day fund, according to its chief executive officer. The country’s Finance Ministry is opting for a new tax strategy for Petroleos Mexicanos starting next year that will provide an “important reduction” in the company’s contributions, Octavio Romero said in an interview, declining to give an estimate for the savings. The gradual cuts, to be spread over five years, would complement incremental tax breaks announced in February that were worth 90 billion pesos ($4.72 billion) over six years. He said the new tax regime will be announced in “the coming days” and it will be used instead of using about $7 billion from the Oil Revenue Stabilization Fund, known as FEIP, which had been previously proposed by the Ministry.
5/13/2019 – Forbes
By Janet Burns
Last week, Mexico’s President Andrés Manuel López Obrador released a plan calling for significant changes to the country’s drug policy, and inviting the United States to pursue the same.
In his National Development Plan for 2019-2024, President López Obrador (also known as AMLO) outlined the goals of decriminalizing illegal drugs in Mexico and diverting funds used for narcotics enforcement toward “massive, but personalized” treatment programs for drug abusers, CNBC reported.
