The Year Ahead/Global Economics
AMLO Shockwaves Spread for Mexico Investors Wary of Policies
- Morena bill to kill some bank fees sends stocks plunging
- Airport cancellation, Maduro invite caused concern last week
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Mexican President-elect Andres Manuel Lopez Obrador and his allies are quickly showing that they’ll put the people over business interests -- even if it risks jarring investors.
The country’s stocks, bonds and currency declined for a second day Friday after the Senate leader for Lopez Obrador’s Morena Party introduced a bill to eliminate certain fees and commissions charged by banks. While such a move would be welcome in many corners of the country, it came as a surprise to a business community that was already reeling from the president-elect’s decision 11 days ago to scrap a $13 billion airport project.