They warn of negative impact on foreign investments in Mexico

The constitutional reforms proposed by the president Andrés Manuel López Obrador, which includes the recently published reform to Judiciary, will negatively impact the foreign investments in the country, said the PAN deputy, Héctor Saúl Téllez.

He stated that the reform of the Judiciary ignited the red lights of the United States and Canada, trading partners of the T-MEC, because it observes serious breaches of said trade agreement and will generate controversies.

“The reform of the Judiciary adds to the series of initiatives and reforms of this government that They have disrupted the economic foundations of our country.

“During these five years, close to 350 billion pesos have left our country as capital flight, which contrasts with previous six-year periods where there were positive numbers in foreign investment,” said the deputy.

He said that it should not be ignored that since June 2, the day of the presidential election, there has been a depreciation of the peso against the dollar of practically 16%, which is why these constitutional reforms will create an economic storm in our country in the short and medium term.

“This whim of the president and to leave his legacy to the elected president, Claudia Sheinbaum, with the endorsement of the ruling party represented by Morena and its allies, they are preparing a minefield, a field full of dynamite through which the next government will have to travel,” he emphasized.

He added that the six-year term of López Obrador is the lowest in terms of foreign investment; but the highest in terms of capital flight.

“These reforms create a complicated scenario to attract investors With nearshoring, Mexico loses a great opportunity in this issue and other countries will benefit,” he said.

Téllez Hernández pointed out that there will be the lowest growth in the Gross Domestic Product compared to previous ones.

The weight loses rhythm

The Mexican currency in international markets ended the first day of the week around 19.24 pesos per dollar, which meant a depreciation of 0.16% or 3 cents compared to the previous day, according to information from Bloomberg.

The above, after last week reporting a significant gain against the greenback, while investors are cautious, prior to the Federal Reserve’s decision tomorrow.

In Mexico, financial markets remained closed due to the holiday.

The actions in Wall Street Traded mixed, with technology stocks struggling ahead of a crucial week dominated by expectations of the Fed’s first interest rate cut in four years.

He Nasdaq Composite, fell around 0.5%, while the S&P 500 rose more than 0.1%, while the Dow Jones Industrial managed to gain 0.5%, following the solid weekly gains of the main stock indexes. A 6% rise in Intel shares helped fuel a record close.

On the other hand, technology companies closed in negative territory because Apple shares fell around 3% due to the poor demand for the iPhone 16.

Depreciation, due to reforms Political problems

The BIS (Bank for International Settlements) says it falls due to the “magnitude” of them.

When releasing its quarterly report, the so-called bank of central banks headed by the Mexican, Agustín Carstens, mentioned that in some countries with emerging markets, the macroeconomic situation was aggravated by internal political problems.

Within this context, the BIS found that the most important investment currencies among “carry trade” operators, such as the peso and the real, suffered episodes of depreciation amid risk reduction movements in late July and early August. .

Related