SUMMARY
Favorable Economic Indicators
President Claudia Sheinbaum presented three key Bloomberg indicators that reflect the stability of the Mexican economy:
- The exchange rate stands at 19.14 pesos per dollar.
- The 10-year interest rate remains a positive sign of confidence in the markets.
- International perception of Mexico’s probability of default has decreased, reflecting an improvement in its credit rating.
She also highlighted an article in the Wall Street Journal that recognizes Mexico as one of the main beneficiaries of nearshoring, which is attracting productive investment and strengthening the peso.
World Bank Recognizes that 11 million Mexicans were lifted out of poverty
Sheinbaum reported that the World Bank recognized that 11 million Mexicans were lifted out of poverty between 2018 and 2024, following a methodological review.
The President said there is no lack of confidence in the national economy, quite the contrary, thanks to the responsible management on the part of the Federal Government and the Banco de México. She also highlighted the progress of Plan Mexico, which promotes investment and economic growth.
Results of the “Mexico Sings” Contest
Minister of Culture Claudia Curiel presented the results of the national and international Mexico Sings contest:
- 15,115 people participated, of which 12,418 were from Mexico and 2,697 from the United States.
- The State of Mexico led national participation (18.72%) and California was on top in the United States (26.56%).
The grand finale will be held on October 5 in Durango, with seven finalists. It will be broadcast on public media.
Government’s Position on U.S. Supreme Court Ruling on Weapons
The President expressed her disagreement with the U.S. Supreme Court ruling, which denies the link between arms manufacturers and the trafficking of their weapons to Mexico.
She reiterated that the problem must be addressed seriously and jointly, and recalled that a lawsuit against arms distributors and sellers is still pending.
Rejection of Remittance Tax
The Mexican government rejected the proposal to impose a tax on remittances. Mexican senators, with the support of the country’s ambassador to Washington, are holding meetings with U.S. lawmakers to explain that this would be unfair double taxation for Mexican nationals.
Call for Peace and Legality in Demonstrations
In relation to the recent incidents involving members of the dissident National Teachers Coordinating Committee (CNTE), the President reiterated her rejection of violence in demonstrations. She stressed that protests must be peaceful and that, if they are not, those responsible must be held accountable.
Election Results and Defense of Hugo Aguilar
Sheinbaum reported that Hugo Aguilar, the next Chief Justice of the Supreme Court, obtained 6,195,612 votes, surpassing the 5,411,046 votes obtained by the PRI in 2024.
She said that “he beat the PRI on his own” and denounced a campaign of racism and classism against him by sectors that resist the transformation of the judicial branch.
Elections in Durango and Complaint to the INE
The President mentioned that irregularities in the municipal election in Durango were discussed on the La Moreniza podcast. She called for formal complaints to be filed with the National Electoral Institute (INE) and noted that the Transformation Movement now governs more people than in 2022, consolidating its territorial strength.
