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Electoral Overhaul Could Be Subject to Supreme Court Judgements

MEXICO
  • December economic activity came in mixed, with M/M IGAE reading ahead of forecast at 0.35% vs. Exp. 0.30%, with an upward revision to the prior (-0.41% from -0.45%). Y/Y was softer than expected, however, at +2.62% vs. Exp. +2.80%. Final GDP for Q4 was notched higher by 0.1ppts in the revision, to +3.6% on the year, and +0.5% Q/Q.
  • Eurasia analysts wrote late yesterday that the contentious electoral reform bill that passed through the Senate and was championed by AMLO earlier this week could be challenged by the electoral regulator as well as opposition lawmakers.
  • They add that the Supreme Court will likely rule against the most disruptive elements of the legislation, however there is little time pressure on the judges. There is no deadline by which to make a ruling, however a judgement of some sort is likely ahead of next year’s elections.
  • The electoral reform bill also garners the focus of local press, with El Economista reporting that the reforms will cost as many as 6,000 jobs and MXN 3.5bln in termination fees – representing 85% of the body’s workforce.
  • Current account balance data for Q4 is left on the docket, due at 1500GMT/1000ET.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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