Autocracy Is Fueling Mexico’s Fiscal Deterioration
3 Articles
3 Articles
Autocracy Is Fueling Mexico’s Fiscal Deterioration
Mexico’s recent ratings downgrades are merely a symptom of a more serious malady: the ruling Morena party’s efforts to consolidate power permanently. To ensure the legal predictability foreign investors require, President Claudia Sheinbaum would need to confront Morena’s ideological legacy and, more importantly, its cartel ties.
Mexico’s fiscal deterioration is the symptom of an autocracy that weakens institutions, drives away investment and allows the infiltration of organized crime into politics. Read more
By Guillermo Ortiz, Project Syndicate.CITY OF MEXICO.- Mexico is in trouble. Not of the kind that governments can manage through economic policy adjustments, but a deeper structural ailment that worsens silently until it breaks out in a crisis. Two recent credit rating reductions, by Moody’s and S&P, have made this problem visible to the international markets, but its causes are still not properly understood.The rating agencies cite the fiscal d…
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