$ Peso

[jesm]

Following AMLO decision to cancel construction of new CDMX airport, the peso has declined rapidly. Now above 20:1.
Financial markets fear airport bond defaults and overall the unfriendly business attitude of President-elect.

[roberb7]

Those financial markets should be happy about the government making a prudent financial decision.
And, it was the airport project in Texcoco that was cancelled. AMLO wants to build a less expensive airport in Santa Lucia, where there is already a military base.
If they asked my opinion, here's an even less expensive option: don't build a new airport at all. Move airline traffic to currently underused airports in Toluca and Queretaro. They're building a train line (should start operating next year) that will stop at the Toluca airport. And the CDMX-Queretaro high speed train project has been officially revived.

[Doyle Phillips]

I think it is correct to say that JESM implies that Big Business knows best.

The conclusion of the posting would link the falling of the peso to the thwarting
of the construction of the airport.

Then MANLO--yet to be in the presidential saddle--is cited as culprit.

I can but disagree with all the above.

[roberb7]

Here's some more details: https://regeneracion.mx/reves-a-naim-en-...ta-forbes/
It says that two Mexican billionaires, Bernardo Quintana and Hipolito Gerard Rivero, are not going to make it onto the Forbes billionaires list because they are not going to get a boost in assets from the Texcoco project.
It also says that AMLO's new plan includes an expansion of the Toluca airport.

[jesm]

Seems to be some misunderstanding about my original posting. My post was solely intended to alert readers of the recent and significant change in the peso/dollar relationship should that impact their financial planning. Yes, the decline was clearly precipitated by the announcement of the cancellation of NAICM which is undeniable when you look even casually at the charts with a steep cliff for the peso within hours of AMLO’s decision being formally announced. The peso has yet to recover from that sudden decline. Only time will tell its future course.
As a long time resident of Mexico I wish the President-elect nothing but success.

[doncoulter]

Good information, jesm. Thanks for posting.

[DonJuane]

Am I mistaken or do we not have the privilege of speaking to Mexico's politics regardless of our resident status? Something to keep in mind. I recently went to a benefit for "the caravan" in a neighboring city but I walked out when some people started criticizing the Mexican government for their lack of support in the immigration effort. I have enough trouble with my home country politics and it would be a shame to be deported back there or worse (like being blocked from return) by getting involved.

[jesm]

Article 33 of Mexican Constitution clearly states “ Foreigners may not in any way participate in the political affairs of the country.“
Doubtful any discussions here reach the participation threshold, but good for all to understand the law.