‘AMLO is sending worrying signals’: The Economist

The British magazine also said that López Obrador ‘has bad ideas and worse plans to implement them’, and that it has already damaged the economy even without being formally the president.

The British magazine  The Economist  redirected the red lights around Andrés Manuel López Obrador and his government plan since he considers that the president-elect “has bad ideas and worse plans to implement them.”

Less than two days after AMLO takes office, the magazine lists some of the proposals and projects that have been carried out during the transition as the public consultation with the decided to stop the project of the new airport in Texcoco, and which “avoids the expansion of the links between Mexico and the outside world,” in addition to “illustrating both their mentality and their methods.”

And in that sense, he stressed that “the auguries of his six-year term already seem worrying.”

A couple of weeks ago, the magazine, which says do not lean to the right or left, referred in a short article to what he called “The AMLO effect” and the one that he claims caused a sharp drop in the IPC of the  Stock Exchange Mexican Securities. In addition to mentioning that this generated uncertainty in investors.

The Economist emphasizes in this recent text that Mexicans, those who voted, chose López Obrador “out of desperation” in the face of the various problems facing the country, such as violence and poverty, and saw the former capital as “a possible savior” .

“He fulminates against the technocratic ruling class. Fly hard to the economy class and has put the presidential plane on sale. He swears to uplift the needy, curb crime and crush corruption. But he is doing it the other way around. “

The magazine highlights that AMLO preferred a technically unfeasible alternative (Santa Lucia) and qualifies the consultation of “a farce” in which only 1% of the electorate participated, and detailed the effects on the markets and the weight that came after the cancellation of the NAIM: “Even before putting the presidential framework, Amlo has damaged the economy,” he says.

The article, which in the print edition bears the title “Errors of AMLO”, also mentions that its plans to fight corruption and crime are “counterproductive” and “alarming”, and cites for example the measure to limit the salary of public servants, what to understand this British publication will expel government talent and “will increase the temptation to accept bribes among those who remain.” And it also puts a red mark on the creation of a National Guard.

“Well, bad or indifferent, your ideas will not get the scrutiny they deserve. By putting many of them directly to people, it reduces the possibility that Congress or any other body control their power, “highlights The Economist.

Finally, the magazine highlights that “not all of AMLO’s ideas are bad”, such as the legalization of marijuana for recreational use and giving scholarships to young people, which could help reduce crime; It also highlights that its head of the office of the Presidency of the Republic, Alfonso Romo, and its Secretaries of Finance and Foreign Affairs, Carlos Urzúa and Marceló Ebrard, “are competent”.

“However, a serious president in the fight against evil would give more priority to strengthening institutions, in particular ensuring the independence of prosecutors from political influence and improving state and local police forces. Unfortunately, AMLO seems disinterested in the creation of institutions. Mexico has always had very few controls over the president, no matter a president with messianic tendencies. Mexicans can come to regret this, “he concludes.

Source: The Economist, Forbes Mx

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