Mexico’s new president tells investors their money is safe


By AFP
October 1, 2024


Mexico's new President Claudia Sheinbaum delivers an inaugural speech in Congress - Copyright AFP Alfredo ESTRELLA

Mexico’s new President Claudia Sheinbaum on Tuesday promised to protect the rights of investors as she took office as the country’s first woman leader, following a backlash over recent judicial reforms.

“I say this very clearly, be assured that the investments of national and foreign shareholders will be safe in our country,” Sheinbaum said in an inaugural speech in Congress.

She said that her government would “guarantee all freedoms” including those of expression, the press, assembly and movement.

The reforms enacted by Sheinbaum’s predecessor and close ally Andres Manuel Lopez Obrador will make Mexico the world’s only country to elect all judges by popular vote.

The changes, which critics argued would make it easier for politicians and organized crime to influence the courts, upset foreign investors as well as key trade partners the United States and Canada.

US Ambassador Ken Salazar warned that the reforms would threaten a relationship that relies on investor confidence in the Mexican legal framework