CSP Administration to Pay Billions of Pesos for NAICM Cancellation
The funding for these payments will reportedly be extracted from the Mexico City International Airport Airport Use Fee and the Mexican Treasury
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Internal Economic Policies in Mexico Accelerate Capital Flight
By MARK LORENZANA In the second quarter of this year, outflow of capital from Mexico totaled $5.74 billion, a figure 88.9 percent higher than the previous quarter. For the ninth consecutive quarter, the country has registered capital flight, according to figures from the Central Bank of Mexico (Banxico). Gabriela Siller, director of economic analysis at Banco Base, explained that the covid-19 pandemic
Read moreMilitary Charges Santa Lucía Airport Laborers Commission to Work
By KELIN DILLON New reports from the controversial construction of Mexico’s new airport, which is newly under jurisdiction of the nation’s military, say workers on the project are allegedly being charged some 20 to 30 percent of their salaries to continue working there by their military superiors. The workers, many of whom come from the cancelled New Mexico International Airport
Read moreASF Reconfirms Hefty Price Tag of NAIM Cancellation
By KELIN DILLON After much back and forth between Mexico’s Superior Audit of the Federation (ASF) and Mexican President Andrés Manuel López Obrador (AMLO) over the actual cost of the planned New Mexico International Airport’s (NAIM) cancellation, the ASF has confirmed that its initial report, which calculated that the project’s termination cost Mexico almost 332 billion pesos, was, in fact,
Read moreLies, Damn Lies and AMLO’s ‘Otros Datos’
By THÉRÈSE MARGOLIS British Prime Minister Benjamin Disraeli once famously quipped, “There are three kinds of lies: lies, damned lies and statistics.” The point that Disraeli was trying to make is that the selective use of numbers can bolster any argument and disguise any truths to accommodate a political agenda. Nowhere is that persuasive power of carefully culled figures more
Read moreHell Hath No Fury Like AMLO Scorned
By KELIN DILLON Since taking office in December 2018, Mexican President Andrés Manuel López Obrador (AMLO) has been increasingly flexing his mounting power, showing anyone who dares to cross him that they will face his angry retribution, as he attempts to consolidate the government’s control over the nation. López Obrador has now come for the Superior Audit of the Federation
Read moreIf You Can’t Beat Them, Jail Them
By KELIN DILLON Mexico’s Attorney General (FGR) on Tuesday, Feb. 23, accused current Tamaulipas Governor Francisco Javier García Cabeza de Vaca of committing a number of crimes, including collaborating with organized gangs and tax fraud, creating outrage among the leftist National Regeneration Movement (Morena) opposition, and raising questions about just how far President Andrés Manuel López Obrador’s (AMLO) Morena will
Read moreASF Backtracks on Airport Audit
By KELIN DILLON Mexico’s Superior Audit of the Federation (ASF) backtracked on the numbers released in it’s 2019 public audit of the New Mexico International Airport’s (NAIM) cancellation, citing inconsistencies in methodology, alleging the real cost to be lower than previously reported. The ASF’s initial audit found the NAIM’s cancellation cost 331.9 billion pesos, 232 percent more than estimated by
Read moreNAIM Cancellation Cost 232 Percent More Than Projected
By KELIN DILLON Mexico’s Superior Auditor of the Federation (ASF) calculated that the cancellation of the New Mexico International Airport (NAIM) back in 2018 cost the nation 331.9 billion pesos, almost three times its projected amount. Mexican President Andrés Manuel López Obrador’s (AMLO) National Regeneration Movement (Morena) government previously estimated the cancellation to cost 100 billion pesos, and touted the
Read moreUncertainty, the New Norm
By ANTONIO GARZA, former U.S. Ambassador to Mexico
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