Mexico touts foreign investments as IMF warns about reforms

Mexican President Claudia Sheinbaum speaks aft gathering overseas concern leaders astatine the National Palace. Photo: Yuri CORTEZ / AFP
Source: AFP

Seeking to calm capitalist jitters implicit arguable judicial reforms, Mexico's caller president said Tuesday that 4 overseas companies would put astir $20 cardinal successful the Latin American federation adjacent year.

The announcement came connected the aforesaid time that the International Monetary Fund (IMF) predicted slowing maturation for Latin America's second-largest economy and issued a informing astir uncertainty created by the reforms.

President Claudia Sheinbaum trumpeted planned overseas concern successful energy, tourism and e-commerce aft gathering US concern leaders successful Mexico City, though it was unclear however overmuch of it was new.

"At slightest 4 large investments of astir $20 cardinal successful our state were announced for 2025," the leftist person told a property conference.

The investments were pledged by liquefied earthy state steadfast Mexico Pacific, e-commerce elephantine Amazon, cruise enactment relation Royal Caribbean and lipid and state steadfast Woodside Energy, Economy Minister Marcelo Ebrard said.

While the confirmed full was much than $20 billion, existent investments could transcend $30 cardinal by 2025, helium said.

Sheinbaum, who took bureau arsenic the country's archetypal pistillate president connected October 1, met Tuesday with 240 concern chiefs, immoderate of them from the United States, Mexico's main trading partner, her authorities said.

The United States and Canada person expressed interest astir the interaction connected commercialized relations of the judicial reforms, which volition marque Mexico the world's archetypal state to elite each judges by fashionable vote.

Sheinbaum sought to dispel specified concerns, saying that the law amendment "does not correspond a occupation for concern successful Mexico."

According to the IMF, however, the reforms "create important uncertainties" astir declaration enforcement and the regularisation of law.

"It is captious that this betterment beryllium implemented successful a wide and predictable mode that ensures the independency and professionalism of the judiciary and strengthens the regularisation of law," its unit said Tuesday successful a connection aft visiting Mexico.

Economic maturation was expected to dilatory to 1.5 percent this year, compared with a prediction of 2.2 percent fixed successful July, it said, adding that the caller forecast did not bespeak the reform-related uncertainties.

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Source: AFP