Mexico’s ‘AMLO’ to Rely on ‘Professionals’ for Security

08/09/18 New York Times

AMLO 3President-elect Andres Manuel Lopez Obrador said Thursday he will rely on a group of 10 women and 10 men for his personal security, sticking with a promise to fold into the Defense Department the service that has long guarded Mexico’s leaders.

Lopez Obrador said they will include “professionals” such as lawyers, doctors and engineers, all with a university degree or higher. They will receive some training, he said, “but not for the use of weapons.”

He described it as more of an “assistantship” than a bodyguard corps, and added he will also be protected by Mexicans of all stripes — police, soldiers, ordinary citizens.

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Mexico’s next interior minister leaves board of financial firm Banorte

08/02/2018 Reuters

Olga.PNGOlga Sanchez, who has been selected as interior minister by Mexico’s president-elect, said on Thursday she had resigned from the board of Grupo Financiero Banorte, one of the country’s largest financial institutions.

Sanchez said she left the board because she had won a seat in the Senate, which she will assume in September.

“(I resigned) because I considered it to be more meticulous and more transparent in my conduct as senator and, afterwards, as minister,” she said.

Starting in December, she will serve as the interior minister of leftist Andres Manuel Lopez Obrador, who won Mexico’s July 1 presidential election in a landslide. In that role, Sanchez will oversee domestic policy and serve as a bridge between the executive and state governments.

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Mexican President-Elect Vows to Improve Public Health Care

07/31/2018 The New York Times

AMLOPresident-elect Andres Manuel Lopez Obrador said Tuesday he plans to direct spending in the public health system so Mexicans can enjoy European-quality free health care.

Mexico has near-universal health coverage through a network of public clinics and hospitals. However, the facilities are often understaffed or lack medicine.

“We’re going to guarantee that medical attention and medicine are free,” Lopez Obrador told reporters. “There will be good attention, and doctors, in health centers.”

He said he will stamp out corruption and free up public funds by consolidating medicine purchases at the federal level. There’s enough money in the budget to cover medication, he said.

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Carlos Slim sees no threat to Mexican business from leftist’s election

07/31/2018 Reuters

Carlos SlimMexican tycoon Carlos Slim said on Tuesday he sees no risks to his telecoms-to-banking empire from the new left-wing government of Andres Manuel Lopez Obrador, a self-styled radical who clashed with business leaders before his election this month.

Slim, whose America Movil (AMXL.MX) owns Mexico’s largest telecommunications network, said he had not met with Lopez Obrador, whose landslide victory put him on a path to take office on Dec. 1.

Asked at an event in Madrid whether he thought Lopez Obrador, a social activist and economic nationalist, posed a risk to his business, Slim said, “No, risks, no.”

“He is proposing, planning important investments before he has even started, which is unusual,” Slim said, singling out expected projects in trains, roads and energy.

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Mexico president-elect Lopez Obrador sees NAFTA deal soon

07/31/2018 Reuters

AMLO 6.PNGMexican presidential winner Andres Manuel Lopez Obrador said on Tuesday that he expected there would be an agreement in the renegotiation of the North American Free Trade Agreement (NAFTA) in the coming days.

Mexico and the United States agreed last week to step up talks on revamping NAFTA in hopes of reaching a deal on major issues by August.

Mexico President-Elect: $16 Billion to Boost Oil Output

07/27/2018 The New York Times

amloMexico’s president-elect announced a $16 billion investment plan Friday to boost flagging oil production, refinery capacity and electrical generation.

Andres Manuel Lopez Obrador said the country must act “urgently” to reverse a decline that saw crude output drop to 1.88 million barrels per day in the first half of 2018, down from 3.4 million barrels per day in 2005.

Lopez Obrador pledged to increase production by 600,000 barrels per day in two years. He said about $9.5 billion in investment would be made in 2019, with more in ensuing years to upgrade existing refineries, build a new one, and support oil exploration. He said he will also upgrade hydroelectric and power generation plants.

State-owned oil company Pemex on Friday reported on a 163 billion peso ($8.7 billion) net loss for the second-quarter. It attributed the loss to the depreciation of the peso against the dollar.

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Lopez Obrador seeks to boost Mexico oil output to 2.5 million bpd from 1.9 million

07/27/2018 Reuters

AMLO 5.PNGMexican president-elect Andres Manuel Lopez Obrador said on Friday his administration will look to boost the country’s crude oil production to 2.5 million barrels per day (bpd) from 1.9 million bpd now.

Lopez Obrador, elected in a landslide July 1 victory and who will take office on Dec. 1, has said he is committed to expanding Mexico’s oil and gas output, which has declined steadily over the past 14 years due to a lack of investment and natural depletion of oil fields.

The leftist leader said he will look to revamp the nation’s six refineries so they are operating at full capacity within two years, and plans to build a new refinery in Dos Bocas in Mexico’s southern Tabasco state with an investment of 160 billion pesos ($8.6 billion) over three years.

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