Mexico Daily News Brief November 24th, 2016

Nov 24, 2016 Gerry Li News Brief

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President Enrique Peña Nieto said that his government has not appointed anyone to enter into contact with U.S. President elect Donald Trump’s team. Peña Nieto said that relations will be handled directly between the two governments.

++ The PAN announced that it stands by free trade, an open economy and competitiveness and called on the federal government not to accept any renegotiation of the North American Free Trade Agreement that affects Mexico’s competitiveness.

++ Referring to Donald’s Trump winning the presidency of the United States, the head of the Business Coordinating Council, Juan Pablo Castañón, said that this not the time for boundless optimism or paralyzing pessimism, but rather a time to find solutions that are less damaging for Mexico’s economy.

++ Central Bank Governor Agustín Carstens said that financial market volatility and the peso’s depreciation are not the main challenge facing Mexico.

He said the true challenge could be the powerful economic shock that could occur because of increasing trade protectionism.

++ The Central Bank lowered its growth estimate this year while the Finance Secretariat maintained an earlier forecast, despite far more adverse international economic conditions.

The Central Bank lowered its expected Gross Domestic Product growth to between 1.8 and 2.3 per cent this year. The Finance Secretariat kept its previous growth estimate at between two and 2.6 percent.

++ The Mexican Business Owners Confederation, the Coparmex, proposed that the minimum wage be set at 89.35 pesos next year so that workers can recover buying power.

++ Interim Veracruz Governor Flavino Ríos Alvarado said that government workers’ pay is guaranteed. He said that priorities are paying salaries to employees at the three levels of government, employees at the Veracruz University and city government workers throughout the state.

++ PRD leader Alejandra Barrales said that in order to establish an alliance in the race for governor in Mexico State to push out the PRI, her party is in talks with not only the PAN but also with Citizens’ Movement, the Labor Party and locally with Morena.

++ PAN leader Ricardo Anaya said that his party will not enter into in alliance with the PRD involving Morena.

Regarding a possible alliance in elections in Mexico State next year, Anaya said his party would run together with the PRD but never with Morena or the PRI.