Reassuring the Markets: President López Obrador’s Commitment to Judicial Reform in Mexico

The election of President Andrés Manuel López Obrador brought about changes in the financial markets, with the peso coming close to 18 pesos per dollar due to uncertainty surrounding the future reform of the Judiciary. Despite this, López Obrador emphasized that justice is more important than market concerns and compared his decision to choose between law or slavery.

The victory of the Let’s Keep Making History coalition in the elections led to a rise in the dollar’s value in relation to the peso. However, there was still uncertainty regarding the qualified majority for the party. The proposed reform of the Judiciary by Morena legislators raised concerns among financial sectors due to oligarch influence in the Judiciary.

President López Obrador assured that he will continue with the reform, even during his remaining time in office, in an orderly and non-authoritarian manner. He encouraged dialogue among all sectors and emphasized respect for Constitution and laws in Mexico.

López Obrador stated that discussions on judicial reform would not affect his transition with his successor, Claudia Sheinbaum. He reiterated his need for judges to be elected through popular vote, which he believes is necessary for a transparent and democratic process.

Overall, President López Obrador reassured markets that despite opposition from those who fear losing influence in the Judiciary, he will proceed with judicial reform according to legal procedures and principles of justice.