Senate Requests Pemex for Debt Report and Payment Strategy
The state-owned oil company owed 403 billion pesos to its contractors according to a Pemex financial report from 2024’s third-quarter
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Infonavit’s Housing Loan Default Rate Surges to 34 Percent
The Institute of the National Housing Fund for Workers’s housing loan default rate has grown by 16.3 percent since March 2019, creating a unstable environment for Mexican workers seeking new housing loans
Read moreWho Is Mexican Presidential Candidate Gustavo de Hoyos?
De Hoyos’ resume, while far from that of a career politician, speaks for itself
Read moreNavigating Mexico: Scoring a Line of Credit
By JUAN DE JESÚS BREENE So you finally made it to Mexico. You have a real adult job, a decent income, legal status as a resident, an RFC number, a CURP number, a residency card and you have navigated the multiple trips to open a bank account. You feel like you won a Nobel Prize by completing the process. But what
Read moreGertz’ 2 Billion-Peso Prize Check Investigated by ASF
By KELIN DILLON On the heels of the controversial irregularities found and publicly released by Mexico’s Superior Audit Office of the Federation (ASF) in a report surrounding the construction of the country’s megaprojects, a new source of contention has arisen from ASF findings: Federal Attorney General (FGR) Alejandro Gertz Manero and close collaborator of Mexican President Andrés Manuel López Obrador
Read moreNew Governors of Mexican States Inherit Debt from Predecessors
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
Read moreMexico News Roundup
By RICARDO CASTILLO Outsourcing Bill on Collision Course The bill to “reform labor outsourcing” sent to the Chamber of Deputies by Mexican President Andrés Manuel López Obrador (AMLO) last week is definitely heading toward a collision course in Congress. Mexican Labor Secretary Luisa María Alcalde complied the bill with the helping hand of the heads of the Mexican Treasury (Hacienda),
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By RICARDO CASTILLO Extended Isolation The full containment of the Covid-19 pandemic in Mexico will require much time than originally planned, so the stay-home period may have to be extended from the original April 30 to May 30, said Public Health Undersecretary Hugo López-Gatell, who is in charge of monitoring the spread of the disease. The announcement was made during
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By RICARDO CASTILLO A Divided Women’s Movement On the eve of Mexico’s March 9 feminist work stoppage by all the women who want to participate, the cadre of invisible “collectives” have been joined by an apparent “fifth column,” the anti-abortionists, who now claim that this movement “underrates” women. (In military terminology, a fifth column is an infiltration of enemy troops
Read moreWorkers Wages in Upcoming USMCA
By RICARDO CASTILLO U.S. union leaders were doubtful about backing the signing of the United States-Mexico-Canada Agreement (USMCA), and rightly so. The fear the AFL-CIO had was that Mexican industrialists would continue milking workers with miserable wages as a fact of life, and its members demanded the right to witness negotiations between unions and companies to protect workers’ rights. This
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