Tag Archives: Secretariat of Finance and Public Credit

FIU Reveals Exorbitant Spending by Gertz, Nieto

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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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Morena Uses Shell Companies to Generate Invoices

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By KELIN DILLON New reports have revealed that Mexico’s in-power leftist National Regeneration Movement (Morena) used 64 shell companies to issue 2,445 invoices totaling to 31 million pesos over the years, a practice it has long admonished and lambasted opponents for doing. Morena has allegedly used these ghost invoicing companies since the party’s creation in 2014, beginning the practice just

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Mexico’s New Treasurer Promises Tax Simplification

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By KELIN DILLON Following his ratification as the head of Mexico’s Secretariat of Finance and Public Credit (SHCP), incoming Secretary of the Treasury Rogelio Ramírez de la O promised he would simplify the country’s tax structure in accordance with President Andrés Manuel López Obrador’s (AMLO) economic plan. “Small and medium taxpayers cannot meet their obligations with the complex and expensive

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AMLO Gifts National Guard an Extra 50 Billion Pesos

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By KELIN DILLON After Mexican President Andrés Manuel López Obrador (AMLO) already handed his pet project the National Guard and 35 billion pesos at the beginning of the year, López Obrador decided to give them yet another 50 billion pesos on Monday, July 26, more than doubling their already-appointed budget. AMLO said the added funds will help the National Guard

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AMLO Gives Armed Forces Control of New Customs Agency

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By KELIN DILLON In his press conference on the morning of Thursday, July 15, Mexican President Andrés Manuel López Obrador (AMLO) announced that the country’s Armed Forces will be taking control of the newly created National Customs Agency of Mexico (ANAM), with the transition set to happen within the next 180 days. “We are going to strengthen land and maritime

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Mexican Army To Receive All Benefits From Tren Maya

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By KELIN DILLON All proceeds from the Tren Maya, Mexican President Andrés Manuel López Obrador’s longtime pet project, will be given to Mexico’s Secretariat of National Defense (Sedena), announced  general director of the National Fund for the Promotion of Tourism (Fonatur) Rogelio Jiménez Pons on Monday, March 15. The tourism official revealed to El Financiero that the complete 1,500-odd kilometers

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AMLO’s Office Denies Huge Number of Information Requests

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By KELIN DILLON According to figures from Mexico’s National Institute of Transparency, Access to Information and Protection of Personal Data (INAI), Mexican President Andrés Manuel López Obrador’s (AMLO) presidential office is among the top 10 least transparent agencies in the government, based on it having one of the lowest response rates to public requests for information. The Office of the

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The Dangers of Eliminating Independent Organizations

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By KELIN DILLON Mexican President Andrés Manuel López Obrador (AMLO) has drawn intense criticism after calling for the elimination of independent organizations by their absorption into the state, a move that would consolidate the Mexican government’s power and remove its checks and balances. López Obrador tried to justify his proposal by saying autonomous organizations “cost a lot to maintain,” going

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