April 12, 2019
1. International Monetary Fund lowers Mexico’s growth forecast
The IMF lowered Mexico’s economic growth forecast to 1.6% from 2.1% for2019, and to 1.9% from 2.2% for 2020. The IMF report cited the cancellation of a partly-completed new airport forMexico City, the pending domestic ratification processes for the U.S.-Mexico-Canada Agreement (USMCA) and backtracking on energy and education reforms as the primaryreasons for the adjustment.
However, low inflation and the expected reduction of interest rates by Mexico’s Central Bank may help the country’s growth, according to the multinational entity.
El Economista: PIB de México no alcanzará el 2% ni en 2020: FMI
2. President López Obrador names leaders of National Guard
President López Obrador has named General Luis Rodríguez Bucio to command the country’s newly-formed National Guard. Additionally, the President named three officials from the Secretary of Defense, Secretary of Navy and the Federal Police to form the National Guard’s General Staff.
President López Obrador reiteratedpublic security as a priority for hisadministration, while adding that the National Guard will operate with respect for human rights and regulateduse of force.
3. Mexican Senate confirms two new members of PEMEX Board of Directors
Mexico’s Senate confirmed two of the nominees proposed by President López Obrador to serve on the Petróleos Mexicanos (PEMEX) Board of Directors. José Eduardo Beltrán Hernández and Juan José Paullada Figueroa will take office and begin their tenures at the helm of the state-owned company.
The Chamber of Representatives rejected one of the President’s nominees for independent counselor, Edmundo Sánchez Aguilar, stating that he disrespected senators during the confirmation hearings. Now, the President must suggest a new nominee to fill the vacancy.
4. UN High Commissioner Michelle Bachelet meets with Mexican administration to discuss human rights
United Nations High Commissioner for Human Rights Michelle Bachelet met with Foreign Affairs Secretary Marcelo Ebrard and Public Security Secretary Alfonso Durazo, to sign an agreement allowing the UN body to advise the Mexican administration in the formation and operation of the National Guard.
The UN High Commissioner and former Chilean President stated that the collaboration between the UN and Mexico will positively impact the transformation of the country’s security situation and human rights.
El Sol de México: No se logra seguridad sin respeto a derechos humanos, afirma Bachelet
5. Mexican House of Representatives passes Labor Reform bill
Mexico’s Chamber of Representatives passed a labor reform bill which will facilitate the creation of labor unionsand fair worker representation.
This bill was a requirement theprevious administration made with theUnited States and Canada to passNAFTA’s replacement, the USMCA. The U.S. House of Representativespreviously stated that a labor reform bill would be needed to ratify the trade agreement.
The bill will now be sent to the Senate for approval.