Claudia Sheinbaum made history by being sworn in as Mexico’s first female president, marking a significant milestone for the nation. Taking office after outgoing president Andrés Manuel López Obrador, her close ally from the Morena party, Sheinbaum’s leadership symbolizes a continuation of progressive policies.
Historic Achievement
- Sheinbaum is the first woman to lead Mexico, following a long history of male presidents since independence.
- She gained recognition as the first woman to serve as the mayor of Mexico City.
Background
- Daughter of academic activists, Sheinbaum has always embraced her roots and the importance of progressive leadership.
- Her upbringing influenced her commitment to social justice and political change.
Economic Assurance
- Sheinbaum reassured investors that Mexico’s central bank would remain autonomous, and that investments, both national and foreign, would be safeguarded.
Challenges Ahead
- Sheinbaum inherits a complex economic situation, marked by the largest budget deficit since the 1980s and sluggish growth.
- The fiscal deficit is expected to reach 5.9% of the gross domestic product (GDP) by the end of the year, and Sheinbaum’s government will face significant pressure to bring it down to 3.5% in its first budget.
- Which is due before November 15.
- Though tax reform is widely seen as essential to improving the country’s fiscal health, Sheinbaum has ruled out a broad overhaul, instead focusing on improving tax collection efficiency, particularly at customs.
Domestic Priorities
- Domestically, Sheinbaum has vowed to continue the social programs initiated by López Obrador, which have been credited with reducing poverty, unemployment, and strengthening the peso.
- In a speech in Mexico City’s historic Zocalo square, she laid out an ambitious set of 100 pledges, ranging from expanding public healthcare and education, building one million new homes, capping prices for key goods, and battling gender violence and discrimination.
Judicial Reforms
- Recent judicial reforms will make Mexico the only country to elect all judges by popular vote, aiming to address corruption in the judiciary.
- Critics warn these changes may allow political and criminal influences to impact the legal system, raising concerns among foreign investors and trade partners.