SUMMARY – MORNING PRESIDENTIAL PRESS CONFERENCE – FRIDAY, JUNE 21, 2024

President Andrés Manuel López Obrador hailed the first cabinet appointments made by President-Elect Claudia Sheinbaum. “She knew how to make a good choice of women and men who will guarantee continuity with change,” he said. He also welcomed Sheinbaum’s decision to create the Ministry of Science, Humanities, Technology, and Innovation.

The head of the Executive Branch reported that the appointment of the first public servants who will form part of Sheinbaum’s cabinet, including Rogelio Ramírez de la O as Minister of Finance, has generated stability in the financial markets and decreased the volatility of the peso. “Investors are not scared because they are well informed; they know that there is public investment, record levels of foreign investment, and economic growth […] We are going to achieve what has not been seen in more than 50 years: there will be no devaluation in this administration,” the President stressed.

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President López Obrador emphasized that the rescuing of the Federal Electricity Commission (CFE) has benefitted the population, since electricity rates have not increased. During the current administration, close to 20 billion dollars have been invested in the CFE so that it now produces 54% of the energy required in the country, which guarantees security and reliability in the National Electricity System. The CFE’s CEO, Manuel Bartlett, explained that there is no similar effort in the world as what the CFE has managed to accomplish. “It could not have been achieved if we had not had the President’s support […] Electricity is the essence of everything in the country; it is the well-being of families. Electricity is economic development. Electricity is national security. The CFE is the veins, the arteries, and the blood that keep this country alive; it is the most important company in Mexico,” he stressed.

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