Comments from Mexico’s incoming President
Won’t make any fiscal or economic changes in first three years
Won’t change banking laws
Principal change of our government is ending corruption
The peso has rebounded on these comments. USD/MXN:
Fears were intensifying in Mexican banks and more broadly after canceling the Mexico City airport project.
Good on AMLO for focusing on corruption. It is undoubtedly the biggest thing holding back the economy and everything else in Mexico. It’s also a monumental challenge to curb it.