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Economics: Pemex Plan: Lingering Doubts
MEXICO · Report · 17 Nov 2016

Last week, after a wait of several months, Petróleos Mexicanos announced its 2016-2021 Business Plan. CEO José Antonio González Anaya had been mentioning this plan since August, saying that it would define Pemex’s strategy and actions for the next five years, to overhaul the financial situation ...

Politics: Bracing for a Trump Administration
MEXICO · Report · 17 Nov 2016

The election of Donald Trump as the next president of the United States has major implications for Mexico. The country was a central theme of the Republican campaign, and a good number of the president-elect’s campaign promises are directly related to Mexico. Some of them, such as repeal of t...

Political: PAN Confronted by New Dilemmas
MEXICO · Report · 10 Nov 2016

The National Action Party emerged from last summer’s elections with powerful momentum nationally while the incumbent Institutional Revolutionary Party has been thrown on the defensive by corruption scandals and President Enrique Peña Nieto’s increasingly depressed approval ratings. So much so tha...

Economic: Slight Margin for Pemex Business Plan
MEXICO · Report · 10 Nov 2016

Petróleos Mexicanos (Pemex) released its preliminary results for the third quarter of 2016, which show that its losses were not quite as pronounced as they had been in previous quarters, but also confirm considerable reductions in production and capital expenditures. Of particular concern is t...

Growth Drivers Soften, While Loyalty Trumps Credibility in Cabinet Shift
MEXICO · Report · 02 Nov 2016

Evidence that growth drivers continued to weaken was apparent in indicators published during October, beginning with last week’s Global Index of Economic Activity (IGAE), which showed the economy slipping at a real -0.1% rate in August 2016 compared to July of this year, according to seasonally a...

Economics: Mexico Shares Some China Woes
MEXICO · Report · 27 Oct 2016

One of the risk factors that endures as a threat to the performance of the Mexican economy over the medium term is the health of the Chinese economy, especially its financial markets. Concern has mounted in the past few months in response to official data pointing to a slowing of economic activit...

Politics: Graft, A Many Ringed Circus
MEXICO · Report · 27 Oct 2016

Federal officials have begun in recent days to respond to years of complaints regarding widespread corruption at the state level by issuing arrest warrants for two out of at least six high profile cases of gubernatorial malfeasance. It has yet to been seen just how seriously those and other cases...

Economics: Consumer Price Index Inflation with Upward Pressure
MEXICO · Report · 19 Oct 2016

After lingering below Banco de México’s 3% target for 17 months, inflation has begun to bounce back in the past three months for a number of reasons. In September, 12-month inflation hit 2.97%, its highest point so far this year. At first, various analysts and even the central bank argued th...

Politics: Policing Strains the Mexican Army
MEXICO · Report · 19 Oct 2016

Minister of National Defense, General Salvador Cienfuegos used a memorial event for soldiers recently ambushed by heavily armed criminal gunmen to complain of a lack of civilian support for the job the armed forces have had to assume since 2006 in fighting organized crime and compensating for the...

Economics: Shallow Budget Cuts in Jeopardy
MEXICO · Report · 13 Oct 2016

The proposed spending budget for the Mexican federal government in 2017 reduces programmable spending by 228 billion pesos compared to the approved budget for 2016, which would bring this spending category to about the same level as what was authorized and spent in 2012, in constant peso terms, a...

Politics: Security Continues to Erode
MEXICO · Report · 13 Oct 2016

Insecurity and violence have returned to the center of public debate in Mexico, as recently the news and social media have focused on several high profile crimes. Even though such incidents have been a constant occurrence for years, none had become a central political issue except for the events...

Month's Data Shows More Softening, whilst a potential PAN-AMLO race shapes up
MEXICO · Report · 06 Oct 2016

Indicators published during September painted a less than encouraging picture of the direction of the Mexican economy beginning with industrial data for July that showed output increased at a mere 0.3% year on year, according to seasonally adjusted data. Though there was a slight firming of manuf...

Economics: Yawning Financing Gap Alarming
MEXICO · Report · 29 Sep 2016

Balance of payments data for the first half of the year and the General Economic Policy Criteria included in the government’s 2017 Economic Package reveal a risk factor for Mexico which, while not new, has grown in recent months: a double financing gap, or what economic theorists refer to as twin...

Politics: Political Crisis Continues to Deepen
MEXICO · Report · 28 Sep 2016

The political crisis plaguing the administration of President Enrique Peña Nieto and his governing party (PRI) deepened in the past three months, according to the results of the latest quarterly polling data from GEA-ISA as detailed in the report Mexico Politics, Society, and Change: Political Sc...

Economics: Risk Sources Cloud Fiscal Outlook
MEXICO · Report · 22 Sep 2016

Mexico’s Ministry of Finance submitted its 2017 Economic Package to the Mexican Congress on September 8. The package includes the proposed Federal Revenue Budget, the General Economic Policy Criteria and the draft of the Federal Spending Budget. The various components of the 2017 package po...

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