Claudia has a ‘Lopez Obrador reform’ problem

As you’ve probably heard 10,000 times, Claudia Sheinbaum will be the first lady president south of the border. She mentions it at every opportunity, and her staff tells you every time, too. Yes, they really want you to know that it’s “la presidenta” this time around.

The problem is that “la presidenta electa” is not persuading some of the people around the world in the money business. This is the story:

The Mexican peso continued to weaken Tuesday as Mexico’s outgoing president — and his successor — vowed to forge ahead with some 20 constitutional changes that have rattled investors.

Claudia Sheinbaum won this month’s presidential election. But she has spent much of the time since then trying to reassure markets, while yielding not an inch on a controversial proposal to make judges and justices stand for election.

Sheinbaum claimed Tuesday that “investors have no reason to be concerned,” adding “to everyone who invests in Mexico, I say that (legal) certainty exists.”

Critics have claimed that outgoing President Andrés Manuel López Obrador wants to eliminate regulatory and oversight agencies and weaken the judicial system to reduce any checks on presidential power.

Sheinbaum said Monday she endorsed submitting all of López Obrador’s reforms when Congress returns in September. Sheinbaum even added a couple more yet-unfunded benefit programs to the list of proposed Constitutional changes.

That’s the problem. Investors don’t want her to submit all of those reforms so that super majorities run the country. But can she stop the LO machine?

The concerns are shared by U.S. authorities. Last week, U.S. Undersecretary of State Brian Nichols cautioned U.S. Congress against the potential ramifications Mexico’s controversial proposed judicial reforms could have on the United States–Mexico–Canada Agreement (USMCA). There are also concerns with controlling organized crime and reshaping energy policies,

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3 thoughts on “Claudia has a ‘Lopez Obrador reform’ problem”

  1. I can describe Mexican politics with two things: Hatred of the USA, because they are forever traumatized by the Mexican American War that saw them lose the states that today comprise the Southwest and love of Cuba because they see that as poking Uncle Sam in the eye. La Presidenta will probably not be any different than her predecessors.

    • She’s totally AMLO’s creature. She would never have become president on her own. Basically, she’s a kind of novelty act, and, in fact, being female is her chief calling card, which is downright pitiful. Also, she’s apparently an apostate Jew, which is a very bad sign, meaning her religion is socialism.

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