On Saturday afternoon, we watched newly inaugurated Presidente Andrés López-Obrador speak before Congress. He saluted Vice President Pence, Mrs. Pence, Ivanka Trump and said President Trump had treated him respectfully since the election. It was a generous move and a hopeful sign of better relations to come.
Then he went on to deliver a message about corruption and poverty. He didn’t really say much, but I did not expect specifics.
Presidente López-Obrador faces various challenges, starting with the caravan and a very skeptical middle class that voted for the other candidates.
Down in Tijuana, an angry mayor and citizens want nothing to do with the caravan.
Then you have the matter of domestic politics.
On the left, Presidente LO is under pressure to keep a ton of promises. On the right, he faces a business community not sure if he will spend all of that money promised in the campaign. After all, it is the business sector that will pay the taxes!
Then there is the peso eroding in the background.
Today’s peso won’t be devalued because it floats in the marketplace. However, the erosion could be quick, and foreign companies may hold up investments in a heartbeat.
As my Mexican friend said on the phone Sunday morning, López-Obrador raised expectations, and now he has to deliver! Can he deliver without tearing up the country?
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