AMLO

AMLO Receives Baston at ceremony in Zocalo, Capitalino

 AMLO, now the 58^th President of the United Mexican States has sent the nation a resounding statement that the people will not be sold out by their President. There are many things one can call Andreas Manual Lopez Obrador, but dishonest is not one of them. To the point of fault, AMLO is and always has been very forthright and up front.

AMLO is from a life where he knows, from personal experience, what it is like to walk on a dirt floor at home. He understands grinding poverty, lack of opportunity, and systemic discrimination from firsthand experience. Now he wears the tri-colour sash of the Presidency and he holds a commanding majority in the lower house (Cámara de Diputados), and a strong coalition majority in the upper chamber (Cámara de Senadores). No democratically elected President of Mexico has ever ascended to the office with such a mandate.

During his speech in Zocalo, he spoke of delivering health care to all Mexicans with a system similar to Canada or the Scandinavian countries. He would build clinics and schools, and Mexico would no longer leave the farthest reaches of the country out of the fold, there would be help for many places including Mexicali, San Louis de Colorado, Nogales… these are names that have big meaning in Arizona. To hear these names spoken in Zocalo by AMLO, it was unprecedented.

Mexican Peso / US Dollar (one year)

But Mexico has challenges, in particular, the challenges of foreign direct investment. Since his election, AMLO has softened his tone somewhat. But his cancellation of the Mexico City airport project is seen, by many in the foreign investment community, as a warning signal. The project, originally budgeted for 13 billion, would likely require the government to assure some 6 billion in bonds, so any costs associated with cancellation are to be in addition to securing the original bondholders. This must be done in order to retain global investor confidence.

Maya Train Project

AMLO has announced his intention to invest in creating good jobs for his people, and you can see the Yucatan and the Southern States will prosper from a few major job-creating projects. One of his pronouncements has been the dismal results of the steps toward the privatization of the oil and gas industry, something I wrote about this in 2013, when I watched the historic vote take place in the Camara. 

Isthmus of Tehuantepec

AMLO will be revisiting that decision and likely seeking to restore state ownership in certain aspects as of yet undetermined. AMLO also intends to forge ahead with many projects;

A sampling includes:

• ·         Maya train project
• ·         New petroleum refinery in Tobasco
• ·         Isthmus of Tehuantepec to link rail from the Pacific and Atlantic oceans
• ·         The renovation of PEMEX
• ·         Free internet coverage in public spaces
• ·         Planting a million hectares of fruit trees and timber
• ·         Doubling old age pension so seniors may live in dignity
• ·         Investing in education through grants for all high school students