Mexico’s President, Judiciary in Standoff Over Pay

12/11/2018 – The New York Times

10-12-18-FOTO-02-CONFERENCIA-DE-PRENSA-MATUTINA-PRESIDENTE-DE-MÉXICO-ANDRÉS-MANUEL-LÓPEZ-OBRADOR-770x553.jpgMEXICO CITY — Mexico’s new president said Monday that salaries for some in the country’s judicial branch are “offensive” and that he will leave it to the Congress to implement his call for austerity.

President Andres Manuel Lopez Obrador showed no sign of budging in his standoff with Mexico’s judges, who have balked at his demand that no public salaries exceed his own.

Since Lopez Obrador has pledged to only take a salary of 108,000 pesos ($5,300) per month, many in the federal government will face a pay cut.

Read more…

Advertisements

Mexico City’s 1st Elected Female Mayor Takes Office

12/05/2018

Screen Shot 2018-12-05 at 2.50.37 PM.pngBy the Associated Press

MEXICO CITY — The first elected female mayor of Mexico City has been sworn into office, and immediately announced she would dissolve the riot police.

Mayor Claudia Sheinbaum says “police are there to protect the people, and we don’t need a police force to repress them.”

Sheinbaum pledged Wednesday to build cable cars to impoverished slums, and improve bus and subway service.

Read more…

Mexico airport debt plan alleviates short-term risks -Fitch

12/04/2018 – Reuters

14946569737_77e2f48637_bBy Vera Eckert

MEXICO CITY, Dec 4 (Reuters) – Credit agency Fitch said on Tuesday that the Mexican government’s proposal to reduce by up to $1.8 billion the outstanding debt of a canceled Mexico City airport project will alleviate some near-term risks.

Leftist President Andres Manuel Lopez Obrador, who took office on Dec. 1, said in October that he would scrap the $13 billion Mexico City airport, arguing that the project was tainted by corruption and would be expensive to maintain.

On the first weekday of his new administration, the Mexico City Airport Trust said it would buy back up to $1.8 billion of $6 billion in debt issued to fund the airport, in an offer that runs through the start of January. (Reporting by Veronica Gomez; Editing by Anthony Esposito)

Mexico’s First Leftist President in Over 70 Years Is Sworn Into Office

12/01/2018 – Time Magazine

ANDRÉS-MANUEL-LÓPEZ-OBRADOR-PRESIDENTE-DE-MÉXICO.jpgBy Christopher Sherman & Maria Verza / AP

(MEXICO CITY) — Andres Manuel Lopez Obrador took the oath of office Saturday as Mexico’s first leftist president in over 70 years, marking a turning point in one of the world’s most radical experiments in opening markets and privatization.

Lopez Obrador pledged “a peaceful and orderly transition, but one that is deep and radical.”

 

Mexico long had a closed, state-dominated economy, but since entering the General Agreement on Trade and Tariffs in 1986, it has signed more free trade agreements than almost any other country, and privatized almost every corner of the economy except oil and electricity.

Now, though, Lopez Obrador talks a talk not heard in Mexico since the 1960s: He wants to build more state-owned oil refineries and encourages Mexicans to “not to buy abroad, but to produce in Mexico what we consume.”

 

Read more…

Mexico central bank warns economy faces risk of ‘loss of confidence’

11/29/2018 – Reuters

airport-bank-board-534216By Michel O’Boyle

MEXICO CITY (Reuters) – Mexico’s central bank on Wednesday warned the economy could suffer long-lasting damage if new policies spark a “loss of confidence” in the country, and the bank’s chief pleaded for “clarity” from the incoming leftist government.

Mexico’s financial markets were battered in November over concerns that President-elect Andres Manuel Lopez Obrador, who takes office on Dec. 1, could move Mexico away from the orthodox policies backed by the central bank.

In its quarterly report, the bank cited risks that Mexico’s medium and long-term growth prospects could be affected by “public policies that create worry in markets and a loss of confidence in Mexico as a destination for investment.”

Read more…

Top U.S. and Mexican Diplomats to Meet on Border Issues on Sunday: White House

11/27/2018 – The New York Times

13-JULIO-2018-AMLO-POMPEO-1024x683WASHINGTON — U.S. Secretary of State Mike Pompeo will meet with the incoming foreign minister of Mexico on Sunday to discuss immigration issues relating to the border of the two nations, a top White House official said on Tuesday.

“They will have a full conversation about all the issues in connection with the border,” White House national security adviser John Bolton told reporters at the White House.

Read more…

Kushner to receive Mexico’s highest honor: report

33693800001_f45bd47608_kBy Rafael Bernal

Mexican President Enrique Peña Nieto will reportedly award White House senior adviser Jared Kushner with the Order of the Aztec Eagle, Mexico’s highest honor for foreigners.

Peña Nieto will present Kushner, President Trump‘s son-in-law, with the award on Thursday at the Group of 20 summit in Argentina, according to the Reforma newspaper.

It’s likely to be Peña Nieto’s last major act as president, as he is due to hand over power to President-elect Andrés Manuel López Obrador on Saturday.

Read more…