By KELIN DILLON The newly sworn-in governors of Mexican states Chihuahua, Zacatecas, Sonora, Campeche, Nayarit and San Luis Potosí have raised concerns about the precarious financial situations of the states they inherited, noting the lack of funds present to pay payroll, pensions and providers. The National Action Party’s (PAN) Governor of Chihuahua María Eugenia Campos made note of a 11
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By JESSICA GUERRERO MORELIA, Michoacán — A few days into the recently initiated school year in Mexico, teachers ascribed to Section 18 of the National Coordinator of Education Workers (CNTE) union in the central western state of Michoacan are alleging serious irregularities and debts in their members’ salary payments over the last month. According to the union group, the administration
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By KELIN DILLON After an explosion occurred on the E-Ku-A2 platform of Mexico’s state-owned oil company’s Petróleos Mexicanos (Pemex) on Sunday, Aug. 22, five workers have been declared dead, six injured and two more remain missing. Located in the Campeche Sound and valued as one of Pemex’s most important production assets, Ku-Alfa is the company’s second platform to experience a
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By KELIN DILLON In the first 26 months of Mexican President Andrés Manuel López Obrador’s (AMLO) administration, Mexico’s foreign debt increased by $22.3 billion, an increase of 46 percent from the term of his predecessor, Enrique Peña Nieto (EPN). The difference in external debt accrued between the two presidencies amounted to approximately $7.3 billion. Carlos Vázquez Vidal, an analyst at
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By THÉRÈSE MARGOLIS Just in case you are wondering why Monday, March 15, is an official holiday here in Mexico, it is in observation of the 1807 birthday of five-time president Benito Juárez, a national hero who helped chase the French out of the country, overthrew the Hapsburg-imposed empire of Maximillian I, and restored the republic under a liberal regime
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By RICARDO CASTILLO Debt Restructuring Plan The Mexican Treasury and the National Banking and Stocks Commission (CNBV) launched a national debt relief package to help borrowers and banks alike during the covid-19 pandemic-provoked economic crisis. The plan includes a downsizing of the agreed-upon interest rate and reduces the monthly amount borrowers are currently paying. All news arrangement will have to
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XINHUA Mexico’s public debt will remain stable over the coming years despite the damage to the economy in 2020 caused by the novel coronavirus (covid-19) pandemic, President Andrés Manuel López Obrado (AMLO) said Wednesday, Sept. 9. AMLO’s administration submitted a budget proposal for 2021 that aims to reduce the so-called Historical Balance of the Public Sector Financial Requirements to 53.7
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By RICARDO CASTILLO Government Downsizing The exact significance of politically oriented economic moves is inevitably in the eye of the beholder. This past week, there several events occurred in Mexico that have been interpreted according to different interests. Businessmen generally consider downsizing a natural move to make a company more profitable But in terms of government cuts, that same downsizing
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By RICARDO CASTILLO “He slammed the door on us!” That quote is from Mexico’s Business Coordination Council (CCE) president Carlos Salazar Lomelín regarding the meeting he and other business leaders had on Monday, April 6, with Mexican President Andrés Manuel López Obrador (AMLO) concerning the nation’s booming unemployment quagmire. AMLO said his doors are open, but that he disagrees with
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By RICARDO CASTILLO Mexicans are divided between two opinions: One, those who have faith in the “profound economic model transformation” slowly but surely being promoted by President Andrés Manuel López Obrador (AMLO), and two, those AMLO calls “conservative hypocrites,” who are presently even denouncing the Mexican democratic system as nothing less than a scourge for having elected this populist dude
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