At the latest, Mexico is almost ready to elect its first female president in the coming June. Both the leading candidates are women but it is almost equally as definite that she would not have much room to act independently of outgoing President Andres Manuel Lopez Obrador.
Before leaving his office on September 30, 2024, the populist president continued proposing new projects in the closing months of the administration.
The populist president has continued proposing new, expensive projects in the closing months of his administration, before he leaves office on Sept. 30. A lot of big-ticket projects will be left unfinished by him.
A good amount of financial commitments will weigh on her even if opposition candidate Xochitl Galvez wins. Claudia Sheinbaum, former Mexico City Mayor and candidate of López Obrador’s party leads in polls.
However, a third male candidate from a small party has no chance of winning. Moody’s Analytics Director Alfredo Coutiño said, “The next administration will assume a country with financial trouble that would limit the workroom throughout the next term,”. The incoming administration will have to adjust fiscally in 2025 in order to deactivate the current fiscal vulnerability.”
López Obrador stated that before he steps down, he’ll take away U.S-owned Vulcan Materials, a move which can cost the Mexican government as much as $1.9 billion if the Alabama-based quarry company wins an international arbitration complaint against Mexico.
There is a yet-to-be-fleshed-out promise to bring passenger trains back to Mexico before he leaves office. López Obrador published a decree on November 20, 2023, saying that the government will step in to do so if private freight operators refuse to run passenger service.
The trains will have to run on tracks run by the private concessionary operators. In the late 1990s, Mexico folded its money-losing state-run railroads. The government will have to buy the trains, fix up stations and set up a ticket-selling scheme.
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