November 19th, 2021
1. Senate approves Circular Economy and Waste Management Law
The Senate of the Republic approved the General Circular Economy Law and a reform of the General Comprehensive Waste Management Prevention Law. These regulations attempt to mitigate resource waste, extend products’ lifecycles, and create a sustainable system that creates recycling jobs.
The Waste Management Law plans to eliminate single-use plastics by 2025. However, the debate did not produce a consensus among all parliamentary parties. Finally, this project aims to convert products that cannot be reused, repaired, recycled, or reincorporated into value chains into energy.
2. Canada, the United States, and Mexico celebrate IX Summit of Leaders
President Andrés Manuel López Obrador met with his counterparts, the President of the United States, Joseph R. Biden, and the Prime Minister of Canada, Justin Trudeau, to celebrate the IX North American Leaders’ Summit. The following individuals also participated in bilateral working meetings: the Secretary of Foreign Relations, Marcelo Ebrard; the Secretary of the Treasury, Rogelio Ramírez de la O; the Secretary of Economy, Tatiana Clouthier; the Director of the National Institute of Migration, Francisco Garduño; and the Undersecretary of Health, Hugo Lopez-Gatell.
The agenda included: health security and public health policy; migration, with a focus on labor forces; and integration and economic competitiveness in North America via the Agreement between Mexico, the United States, and Canada (T-MEC). Competitiveness, resilience, innovation, and sustainability were the guiding principles of regional integration. This is the first trilateral meeting in five years.
El Economista: México y Canadá trazan ruta de trabajo rumbo a cumbre trilateral.
El Financiero: Empresarios de Norteamérica piden se cumpla el T-MEC.
El Universal: AMLO plantea que América del Norte compita con China.
3. Supreme Court annuls extension of the Minister President
The plenary session of the Supreme Court of Justice of the Nation (SCJN) declared temporary article 13 of the Reform to the Organic Law of the Judicial Power unconstitutional, which extended the term of its current president, Arturo Zaldívar, by two years by unanimous vote. The president of the Federal Judicial Council participated in the same vote after explaining that the voting process did not incur a conflict of interest.
The 10 members of the plenary session of assisting ministers, with the exception of Minister Margarita Ríos-Farjat, approved Minister Fernando Franco González’s bill. They determined that the article constituted a violation of the Constitution and violated the independence of the Federal Judicial Power (PJF). Likewise, the President sent the vacancy of Minister Fernando Franco, who will leave after 15 years of service, to the Senate. The Executive’s proposal nominated two lawyers who did not have formal judicial careers.
4. Economic outlook for the coming months
According to figures from Grupo Banorte, inflation will continue dropping for the rest of 2021. The financial group estimates an average forecast of 6.6% for the end of the year. In 2022, analysts projected moderation of inflationary pressures and annual inflation above Banco de México’s (Banxico) goal. The central bank forecasts the highest inflation in the last two decades of this year. It also raised its benchmark interest rate by 25 points to 5%.
The Fitch ratings agency reiterated that Mexico’s estimated Gross Domestic Product (GDP) growth would be 5.9% in 2021 and 2.8% in 2022. Finally, Mexico became the third largest recipient of remittances in the world, attracting USD $52.743 million, according to the latest World Bank report. The international organization’s calculations valued those remittances at 4.1% of Gross Domestic Product (GDP), breaking 2020’s the historic record.
El Universal: Inflación se seguirá deteriorando por lo que resta del año: Banorte.
El Economista: Confirma Fitch la nota de México en “BBB-”; mantiene perspectiva Estable y México, el tercer receptor mundial de remesas: Banco Mundial.
5. Vaccination of minors begins
The Undersecretary of Health, Hugo López-Gatell, announced that children and adolescents without comorbidities between the ages of 15 and 17 will be included in the National Vaccination Program against COVID-19. The authorities affirmed that they would prioritize inoculation of pregnant adolescent women, who have greater risks of coronavirus complications. The government will also reinforce an ongoing flu vaccination campaign.
The vaccination plan will be implemented after parents and civil society organizations proposed a series of protections for minors. As of November 19, this population group will be allowed to register and, as the vaccination process progresses, more states will be considered in the coming weeks.