By RICARDO CASTILLO Reverse Remittances While the Central Bank of Mexico has already begun whining about the potential drop in dollar-denominated remittances from the roughly 36 million Mexican workers in the United States, down to $29 billion in 2020, its U.S. counterpart, the Federal Reserve (Fed) is reporting that as of last January and through Thursday, April 2, Mexican investors
Read more
By RICARDO CASTILLO AMLO to Issue Economic Forecast On Sunday, April 5, Mexican President Andrés Manuel López Obrador (AMLO) will issue a revamped economic forecast for year 2020. In the case of the previous forecast, all figures have been toppled by the financial ravages provoked by the Covid-19 pandemic and the global oil market pricing havoc. Regarding the previous forecast,
Read more
By RICARDO CASTILLO Mexican President Andrés Manuel López Obrador (AMLO) has called on his opponents to agree to a political “truce” in order to abate an anti-AMLO tidal wave of fake and not-so-fake news that has recently been unleashed on Twitter and which AMLO claims is being fed by troll farms. As an example, AMLO pointed to one tweet out
Read more
By RICARDO CASTILLO Partial National Shutdown As of Monday, March 30, Mexico officially entered into a month-long economic standstill to prevent close contact among citizens in order to avoid the spread of the Covid-19 virus. The announcement of the partial national shutdown, which will last through April 30, was made by members of Mexican President Andrés Manuel López Obrador’s (AMLO)
Read more
By RICARDO CASTILLO That old proverb “don’t do good things that look bad” couldn’t be more timely for Mexican President Andrés Manuel López Obrador (AMLO) regarding his outing on the March 28 weekend. AMLO went to Baja California to visit two main cities. Tijuana and Mexicali, and then moved on to the state of Sinaloa, spending time in the capital
Read more
By RICARDO CASTILLO Private Hospital Expropriations Mexican President Andrés Manuel López Obrador (AMLO) published an executive order on Friday, March 27, awarding the federal government the right to “make use of all medical sectors, public, social and private, in the regions affected by the Covid-19 pandemic.” In short, private hospitals may be privatized for pandemic use only. The decree, published
Read more
By RICARDO CASTILLO Early Vacations Due to the imminent threat of a Covid-19 contagion, Mexico’s Public Education Secretariat (SEP) opted for stopping classes altogether for two weeks as of Friday, March 20. The two weeks will link up with the upcoming two week Easter vacation, slated to start on April 4. Classes will restart on April 20, providing for a
Read more
By RICARDO CASTILLO Given the uproar that President-elect Andrés Manuel López Obrador (AMLO) is causing with his governance plans, he devoted the entire week of Nov. 19 to giving out interviews to all those requesting them – mainly radio and television – to clear up his points of view. In all this, it must be considered that, although we are still
Read more
By RICARDO CASTILLO Here’s the sequence of events that led to a market selloff at the Mexican Stock Exchange (Bolsa Mexicana de Valores) that provoked the loss of nearly 6 percentage points and nearly 90 billion pesos over the last week, mostly for banks. First, on Wednesday, Nov. 7, came the not-so-casual news from the National Regeneration Movement (Morena) political party majority leader
Read more