Mexico News Roundup


Photo: americaeconomia.com

By RICARDO CASTILLO    

Interest Rates Down 0.25%

The Central Bank Banco de México dropped interest rates by a quarter of a point, down to 7.50 percent last week. The five board members were divided over making the decision, since two of them wanted to lower the rate even more but got outvoted.

Photo: interest.co.nz

The decision was taken along the line established by the U.S. Federal Reserve. which also recently dropped its interest rate.

Banco de Mexico issued a statement claiming that, with annual inflation at 3 percent and the peso-dollar parity more or less stationed at slightly above 19 pesos per dollar, it was time to lower interest rates.

This is the third rate cut carried out by the bank this year, and even then, Mexico still has one of the highest interest rates in the world.

Maya Train Poll

The final decision regarding the revamping and extension of the Maya Train line, which currently goes from Merida in the Atlantic to Tapachula in the Pacific, will be taken by a popular vote. The train is slated to traverse in its new format through the states of Chiapas, Tabasco, Campeche, Yucatán and Quintana Roo.

Photo: salvalasselvas.com

The announcement was made by Mexican President Andrés Manuel López Obrador (AMLO) during his daily press conference at the National Palace.

“If the people say yes, we’ll do it,” he said. “We have the technical studies, as well as the needed resources (120 billion pesos to begin with). If the people say no, then that’s it. The people are in control.”

The vote will be carried out at a date yet to be determined only in the five abovementioned states.

2020 Budget Approval Postponed

The federal expenditures budget for the year 2020 was supposed to get apporved on Friday, Nov. 15, but the vote had to be postponed until Wednesday, Nov. 20, due to a sit-in staged by farmers of political movement Antorcha Campesina (“Farmers’ Torch”), who have not allowed the entry of deputies to the Chamber of Deputies (Congress) building.

Photo: movemientoantorchista.org.mx

AMLO sent a message to the Antorcha leaders: “They’d better get used to the change,” he said, “because federal funds will no longer be funneled through organizations, which in the past have used them to get kickbacks.”

The president added that there will be “no más moches,” which in Mexican slang means “no more kickbacks.”

Schwarzenegger Visits Fox

Iron pumper-cum-actor-cum-politician Arnold Schwarzenegger spent some time with former Mexico President Vicente Fox over the weekend at Fox’s hacienda near the city of León, Guanajuato.

The former California governor was attending the Citek 2019 Business Summit.

Photo: wikimedia.org

Schwarzenegger told reporters that Fox inspired him to become a politician during the filming in Mexico of the movie “Collateral Damage.”

“Every night I watched him on television how he rode horses, his speeches, they were all inspiring.”

Schwarzenegger noted that he first entered politics in 2003, during Fox’s watch as president of Mexico. During Schwarzenegger’s campaign for governor, Fox visited California, pitching in politically for the Republican candidate, which “sent a strong message to Latin voters,” Schwarzenegger said. “We have been friends ever since.”

Schwarzenegger has shot four action films in Mexico. “I was a fan of Mexico from the first day.”

Mexico Rated Top LatAm Exporter

The Inter-American Development Bank (IADB) announced the results of its annual Trade and Integration Monitoring study.

The study showed that all Latin American nations, with the exception of Mexico, sowed negative growth figures in their exports rates.

Photo: 112.international

“Only Mexico showed a positive growth,” said IADB economist Paolo Giordano, “with a 4.5 percent growth” over all other South American nations, which collectively registered a 1.3 percent decline. This earned the nation $8 billion.

Giordano also said that the main cause for the drop in exports across Latin America was the trade conflict between the United States and China.

Sports: Mexico Beats USA

Mexico’s baseball team defeated the United States 3 to 3 in a match that went into the 10th innings after the United States tied the game in Tokyo in the ninth with a homerun by Mathew Clark.

The teams were playing for third place in a contest to attend next year’s Tokyo Olympic Games. In the contest, Mexico was defeated both by Japan and South Korea during the Premier 12.

Photo: furiagris.com.mx

In the final inning, Efrén Navarro fonged a hit with a man on board to break up the tie and leave the United States out of the Olympiad.

In the final inning, Efrén Navarro fonged a hit with a man on board to break up the tie and leave the United States out of the Olympiad.

AMLO, a big baseball fan, congratulated Team Mexico on its earned representation next year in Tokyo.

“Qualifying for the first time for the Olympic Games is historic for Mexico,” said Navarro, who hit the game-winning RBI single in the 10th to send Mexico to the Olympics, during the post-game interview.

“It’s a great honor. I respect a lot the USA. They have great prospects that will soon put them in the Major Leagues. But tonight was our night,” Navarro, now a national hero, quipped with a grin.

Host Team Japan won the Premier 12 tournament organized by the World Baseball Softball Confederation.

 

 

 

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