López Obrador endangers Mexico’s economy and institutions


The British newspaper Financial Times criticized the president’s policies.

Andrés Manuel López Obrador won the presidential elections of 2018 with a wide margin. By March its popularity was around 78%, however, the voices against a latent autocracy are growing.

This Sunday thousands of people took to the streets of different cities in Mexico to protest against the president’s policies. His constant remarks and labels to his detractors, were motive of slogans.

“No more hate speech,” some of the protesters expressed.

On the polarizing figure of the president, the worst fears of the analysts have been cemented. The decisions taken by López Obrador, who calls himself the executor of the “fourth transformation” of Mexico, endanger the economy and the institutions of Mexico, they say.

“In a redemptive search to put an end to ‘neoliberalism’ and the corrupt ‘mafias of power’ in Mexico, it has used ‘popular consultations’ to justify controversial measures, such as canceling a half-built airport of 18 billion dollars . Self-confidence, ended the opening of Pemex to private capital, preferring the government to inject billions into the state oil company in trouble, “the Financial Times published in its editorial on Sunday .

The British newspaper criticized the stigmas that AMLO has placed on the press that is uncomfortable, calling it “fifí” or conservative.

” He has also attacked the press and civil society , discarded inconvenient statistics, has contradicted his cabinet and has appointed low-ranking lackeys to occupy high-ranking positions.”

The power that millions of Mexicans gave to AMLO and his party, generates uncertainty. The counterweights of the current government are few.

“Given that his party has a majority in Congress, there are only two real controls over its power, the first being the international laws incorporated in the North American Free Trade Agreement (NAFTA) .These are crucial features of the pact that the The US Congress should consider when voting on the new version – the Treaty between Mexico, the US and Canada (T-MEC) – negotiated by Trump, the second is the financial markets, the Mexican peso, the preferred indicator of López Obrador, for the At the moment it is performing at the same level as last year, unless it restrains its most destructive features of the value of the peso, the markets will soon incorporate a higher risk premium “.

The Financial Times pointed out that although it is inspired by Benito Juárez, whom he defines as a man of laws, he himself has questioned the validity of what is legal by imposing what he considers to be “just”.

Massive criticism and ridicule from the secretaries of state came to the massive march on Sunday. Javier Jiménez Espriú, Secretary of Communications and Transport, joked about the number of people who took to the streets.

“I never thought that all those who are against AMLO went to the march, but yes …, WERE ALL!” , Wrote textual in his Twitter account.

Source: financial times, infobae