Tag Archives: pesos

Congress Goes on Untendered Spending Spree, Gives Deputies Huge Bonuses

By THE PULSE NEWS MEXICO STAFF Mexico’s lower house Chamber of Deputies pulled out all the stops when it came to spending in the second half of 2021, handing out untendered contracts right and left (well, maybe more left than right) for unbidded-on services and goods in an effort to use up its allocated annual budget. During the second session

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Mexican Senate Passes Income Law, Sends to Executive

By KELIN DILLON Early in the morning of Wednesday, Oct. 27, Mexico’s Senate approved the country’s new Income Package for 2022 in a 66 to 44 vote, without making any changes to the initiative. Though opposition parties presented more than 400 potential issues with the initiative, majority senators from the in-power National Regeneration Movement (Morena) rejected their reservations one-by-one.  The

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Mexican Peso Strong, That’s Not Necessarily a Good Thing

By THÉRÈSE MARGOLIS     Every time the Big Three international rating agencies downgrade the country or it’s state-run oil venture, Petróleos Mexicanos (Pemex), Mexican President Andrés Manuel López Obrador (AMLO) proudly points to the fact that the peso is doing well against the U.S. dollar, with a parity now below 19 to 1. And in most financial universes, a strong currency

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Peña Nieto Keeps Trying to Hide a Massive Trail of Corruption

By RICARDO CASTILLO     Most definitely, Mexican President-elect Andrés Manuel López Obrador (AMLO) is getting all the media attention usually reserved for the standing president, namely, in this case, Enrique Peña Nieto (EPN.) But why is this? The answer is easy: Peña Nieto is now working in the shadows as the glare of the limelight shines brightly on AMLO – slated to become president

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