March 22, 2019
1. Federal Government invites four foreign companies to bid on Tabasco refinery construction
President López Obrador announced that four foreign companies were invited to bid on the construction of the new oil refinery in Dos Bocas, Tabasco. The President revealed these companies have built 150 refineries on average and are trustworthy.
The invited companies are Bechtel-Techint and KBR from the United States; Worley Parsons-Jacobs from Australia; and Italian-Argentinian company Technip FMC.
2. President López Obrador pledges not to seek re-election
After a proposed constitutional amendment to allow referendums to remove a sitting President from office, President López Obrador signed a pledge to not seek re-election once he completes his term in 2024.
In addition, he committed to put an end to corruption and impunity in the country in his six-year term.
3. President López Obrador meets Jared Kushner to analyze bilateral relations
President López Obrador met Jared Kushner, Donald Trump’s son-in-law and senior adviser, at the house of Bernardo Gómez, a mutual friend and Vice-president of Televisa.
In their meeting, they analyzed a bilateral deal between Mexico and the United States on immigration, a development plan to invest 10 billion dollars in Mexico and Central America, and discussed the ratification of the United States-Mexico-Canada Agreement (USMCA) and the willingness of the United States to review tariffs on foreign exporters of steel and aluminum.
4. Federal Government reaches an agreement with Teachers’ union
After the national teachers’ union (CNTE) blockaded the Mexican House of Representatives to stop a vote on a proposed educational reform, President López Obrador announced that his government has reached an agreement with the union, allowing teachers to participate in the redesign of the bill.
El Sol de México: AMLO celebra acuerdo con la CNTE
5. Fitch cuts Mexico’s 2019 growth forecast to 1.6%
Fitch Ratings lowered its 2019 forecast for Mexico’s economic growth from 2.1% to 1.6%. This readjustment follows the decision of Mexico’s Central Bank to lower its own forecast for the country’s growth last month.
A decline in oil output, slowing job creation and a fall in government spending were cited by the ratings agency as reasons for the forecast cut.