Inside Segalmex’s 15 Billion-Peso Embezzlement Scandal
While founded with the positive intention of supplying low-income Mexican families with affordable food resources, Segalmex soon became embroiled in scandal
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Felipe Ángeles Airport Still Hemorrhaging Money
According to the AIFA’s own internal end-of-year financial statements, 90 cents out of every peso that the terminal has reported as “income” between its inauguration on March 21, 2022, and Dec. 31 of last year were, in fact, government subsidies
Read moreMexico Places Tariffs on Corn Exports to Lower Tortilla Costs
In a statement, the government said that “the supply and production of white corn in our country are important factors in determining its price and, therefore, also that of the various consumer products made from it, mainly tortillas”
Read moreCompraNet Webpage Goes Down, Again
Despite a major investment by the Treasury in August to “repair access issues,” the platform has delivered only partial service over the last six months, with extensive downtime
Read moreMexico’s Public Deficit Spikes by 24 Percent in 2022
By KELIN DILLON While Mexico has long been spending more than it brings in through revenue, 2022 saw the country’s public deficit increase by approximately 26 percent – the largest deficit spike it has experienced since 2016. According to figures from Mexico’s Secretariat of Finance (SHCP), Mexico’s public deficit between January and November of 2022 stood at 611.1 billion pesos,
Read moreNavigating Mexico: Protecting Your Pesos
By JUAN DE JESÚS BREENE One of the first topics in most high school world geography classes is, “Why are some countries rich while other countries are poor?” The answer is a relatively simple one: a combination of its level of corruption, its geography, climate, whether it is landlocked, security of property rights, economic flow and, one of the most
Read moreAMLO Suspends Subsidies for Premium Gasoline
PULSE NEWS MEXICO Mexican President Andrés Manuel López Obrador (AMLO) on Friday, Aug. 5, announced the his administration would no longer provide financial subsidies to offset the high cost of premium gasoline. In March of this year, after global oil prices skyrocketed as a result of the war in Ukraine, López Obrador ordered the Treasury to provide a nationwide Special
Read moreFelipe Ángeles Airport Hemorrhaging Money with No End in Sight
PULSE NEWS MEXICO Between March 21 and April 21, the new Felipe Ángeles International Airport (AIFA) registered a net loss of 22,902,811 pesos, according to Mexican government statistics. During its first 30 days of operation, the air terminal, located in Zumpango, in the State of Mexico (EdoMéx) reported revenues of 308,331 pesos. However, the cost of operating the AIFA during
Read moreThe Real Perpetrator behind the Murders of Mexico’s Journalists
OPINION By THÉRÈSE MARGOLIS On Thursday, Feb. 10, yet another Mexican journalist was murdered, the fifth so far this year, and the 50th since President Andrés Manuel López Obrador (AMLO) took office three years ago. Heber López, from the internet news site Noticias Web in Salina Cruz, Oaxaca, was shot dead in broad daylight as he left his office Thursday
Read moreMexico’s Fiscal Trials Increase by 94 Percent in 2021
By KELIN DILLON More than 23,000 trials pertaining to tax-related issues were carried out in Mexico during 2021, a significant increase from the pandemic-afflicted year of 2020, when only 11,871 trials of the same nature took place. However, considering the Federal Court of Administrative Justice (TFJA) was closed from March 18 to June 30, 2020, due to covid-19 pandemic health
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