Claudia Sheinbaum, Mexico's First Female President, Pledges to Boost Women's Rights and Secure International Investment
By Diego Oré and Cassandra Garrison
Claudia Sheinbaum, a 62-year-old scientist and former mayor of Mexico City, was sworn in as Mexico's first woman president on Tuesday, promising to strengthen women's rights and ensure that the country remains a safe haven for global investors. In a passionate inauguration ceremony at Mexico's Congress, Sheinbaum declared, "It's time for transformation, it's time for women."
As the new head of state, Sheinbaum also addressed concerns among investors following a major judicial reform implemented by her predecessor, Andres Manuel Lopez Obrador. She reassured both national and foreign shareholders that their investments will be protected in Mexico.
Alberto Ramos from Goldman Sachs emphasized the importance of a stable and investment-friendly policy environment under Sheinbaum's leadership. Key factors like budget management, public security, and the future of state-owned enterprises will influence market sentiment and sovereign debt ratings.
Sheinbaum's government aims to maintain daily oil production at 1.8 million barrels, aligning with current levels. However, uncertainties surrounding the upcoming U.S. presidential elections and potential trade policies could impact market volatility in Mexico.
Sheinbaum's first budget, set to be unveiled before Nov. 15, will be closely watched for clues on fiscal deficit reduction and economic reforms. She outlined a series of commitments, including healthcare expansion, educational improvements, housing initiatives, and legislative measures to combat gender violence.
Despite inheriting economic challenges, Sheinbaum promises a balance of continuity and change in her administration. Experts suggest that fiscal reforms will be necessary to boost revenues, but the focus is currently on enhancing tax collection efficiency.
While nearshoring has attracted investments to Mexico, Sheinbaum faces the task of increasing foreign investment amid concerns over the judicial reform. The shift to popularly elected judges has raised doubts among investors and drawn criticism from international observers.
Sheinbaum's commitment to governance for all, coupled with her pledge to serve the people and the nation, sets the tone for her presidency. As markets closely monitor her actions and economic policies, the future trajectory of Mexico's economy will be shaped by her leadership.