By RICARDO CASTILLO The word “recession” currently seems to be striking terror in the heart of most Mexicans. And given the humongous volume of antagonism President Andrés López Obrador (AMLO) is confronting, the word is even more threatening to his opponents. Not only that, AMLO is fighting a war of economic terminology in which the truth is in the voice
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By RICARDO CASTILLO Mexico’s state-owned energy companies Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) continue to be leading problems for the administration of President Andrés Manuel López Obrador (AMLO). Both are separate entities that must be dealt with separately. So we’ll start with a look at Pemex, and then consider th CFE a few paragraphs down. Pemex and
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By EARL ANTHONY WAYNE, former U.S. Ambassador to Mexico
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By EARL ANTHONY WAYNE, former U.S. ambassador to Mexico
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By RICARDO CASTILLO After a long and weary debate on the night of Wednesday, April 24, that extended into the wee hours of Thursday, April 25, Mexico’s Chamber of Deputies voted to abolish the Education Reform “imposed” by former President Enrique Peña Nieto in 2013. President Andrés Manuel López Obrador (AMLO) celebrated the backing he received from this house of Congress
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By RICARDO CASTILLO Lest we forget: One of the unkept promises that helped to topple the popularity of former Mexican President Enrique Peña Nieto was his much-repeated outright lie that with his Energy Reform and Pemex joining free-market competition, “fuel prices will come down.” On Jan. 1, 2017, Peña Nieto made the grave error of liberating gasoline and diesel prices.
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By RICARDO CASTILLO There’s no question about it: Mexico’s once-prolific cash cow has run dry. The country’s economic national pride, the state-run oil giant Petróleos Mexicanos (Pemex), is now in financial straits, with its latest corporate report showing that just in the last quarter of 2018, it “lost” over 2 billion pesos. That definitely makes Pemex the only oil company
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By THÉRÈSE MARGOLIS On the morning of Friday, Feb. 15, Mexican President Andrés Manuel López Obrador (AMLO) eagerly presented his four-punch bailout plan to save the country’s financially lethargicm state-run oil company Petróleos Mexicanos (Pemex) from economic collapse. By that same afternoon, at least three international financial institutions and one of the “Big Three” global credit rating agencies had declared
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Photo: aerogroup.com
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By RICARDO CASTILLO It’s hard to understand why Mexican President Andrés Manuel López Obrador (AMLO) reacted viscerally to the two-level downgrading New York-based Fitch Ratings made of the state-owned oil company Petróleos Mexicanos (Pemex) last Tuesday, Jan. 29. In any case, if there is going to be a culprit for the heinous performance of Pemex finances, it is none other than
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