By JESSICA GUERRERO MORELIA, Michoacán — For years, Mexican politics have been nurtured by high-profile personalities from different areas of Mexican society such as celebrities, businessmen, writers and prominent athletes. This situation, far from being caused by the scarcity of members of the political parties, is rather a strategic move by these institutions to attract voters on a large scale, taking
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By THE PULSE NEWS MEXICO STAFF Mexican President Andrés Manuel López Obrador (AMLO) said Wednesday, Dec. 8, that the country’s Public Function Secretariat (SFP) should investigate the accumulation of assets of the Treasury Secretariat’s (Hacienda) former head of the Financial Intelligence Unit (UIF), Santiago Nieto, who in 25 months acquired four properties and a car worth at least 40 million
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By KELIN DILLON Following an investigation by Mexico’s Financial Intelligence Unit (FIU) of the Secretariat of Finance and Public Credit (SHCP), financial records tracking the spending of controversial Attorney General (FGR) Alejandro Gertz Manero and recently disgraced former FIU head Santiago Nieto showed the two officials’ extravagant spending habits, doling out millions and millions of pesos for exotic cars, luxury properties
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AMLO’s Wedding Gift to Santiago Nieto
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By THÉRÈSE MARGOLIS In what seems like a little bit of very justified tit-for-tat, the family of Laura Morán Servín, widow of Federal Attorney General (FGR) Alejandro Gertz Manero’s late brother Federico Gertz Manero, filed a request on Wednesday, Sept. 22, with Mexico’s Financial Intelligence Unit (UIF) to investigate allegedly illicit deposits by their in-law in foreign tax havens for
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By RICARDO CASTILLO Debt Restructuring Plan The Mexican Treasury and the National Banking and Stocks Commission (CNBV) launched a national debt relief package to help borrowers and banks alike during the covid-19 pandemic-provoked economic crisis. The plan includes a downsizing of the agreed-upon interest rate and reduces the monthly amount borrowers are currently paying. All news arrangement will have to
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By RICARDO CASTILLO Upon turning over the care of the country’s customs service to the military on July 17 in Manzanillo port, Mexican President Andrés Manuel López Obrador (AMLO) finished his statement by saying that the times of “el que no transa, no avanza” (“he who does not double deal does not avance”) are over. The saying is a favorite
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By RICARDO CASTILLO USMCA to Take Effect July 1 The trilateral trade treaty known in the United States as the United States-Mexico-Canada Agreement (USMCA), in México as the T-MEC, and in Canada by the same old term as the previous accord, the North American Free Trade Agreement (NAFTA), will most definitely go into effect on July 1. The announcement was
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By RICARDO CASTILLO Weathering a Perfect Storm Over the past few days, representatives of all o Mexico’s major banks have held separate press conferences previous to the annual Mexico Banks Association Convention, now being held in Acapulco. Each of the interviewed representatives showed acceptance for the policies of Mexican President Andrés Manuel López Obrador (AMLO). This is an indicator that
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By RICARDO CASTILLO The Mexican Senate draft of the new labor subcontracting or outsourcing bill project bill has undergone some major changes so far. It’s also been the subject of deep divisions among senators, some wanting to go the radical route and others obeying lobbying efforts from both foreign and national companies that have so far gotten their way in
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