By MARK LORENZANA According to documents leaked by hacktivist group Guacamaya, the federal government of Mexican President Andrés Manuel López Obrador (AMLO) and the Armed Forces have at their disposal a “discretionary bag” worth 113 billion pesos from a trust fund of Mexico’s National Customs Agency (ANAM). Despite the promise of López Obrador to extinguish trust funds or “fideicomisos” under his
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By MARK LORENZANA The Mexican government has just created three new trust funds, or “fideicomisos,” despite a decree by President Andrés Manuel López Obrador in March of 2020 ordering the “extinction” of 109 trust funds to combat corruption. The beneficiaries of the three new discretionary trust funds created by the executive branch — without going through Congress — are the
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Demise of Mexico’s Trust Funds
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By RICARDO CASTILLO Covid-19 Protection Arriving Mexico received the first plane load of medical materials from China on Wednesday, April 8, to supply its hospital personnel nationwide of much-needed protection while caring for patients infected with Covid-19. Foreign Relations Secretary Marcelo Ebrard said that Mexico paid $56.481 million to acquire 180,000 pairs of globes, 16,174,000 surgery masks and 11.5 million
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By RICARDO CASTILLO Mexican Beaches Closed for Easter Mexican marines and municipal police have full control of Acapulco beaches to impede tourists from doing what they do best every Easter weekend: Enjoy their vacations. Guerrero Governor Hector Astudillo held a press conference on Tuesday, April 7, to “acknowledge the efforts being made by the persons participating in actions to keep
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By RICARDO CASTILLO Reverse Remittances While the Central Bank of Mexico has already begun whining about the potential drop in dollar-denominated remittances from the roughly 36 million Mexican workers in the United States, down to $29 billion in 2020, its U.S. counterpart, the Federal Reserve (Fed) is reporting that as of last January and through Thursday, April 2, Mexican investors
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