Financial news

Mexico president to introduce wide-ranging constitutional reforms – JURIST

President Andrés Manuel López Obrador of Mexico said Friday that in February, he plans to introduce a series of constitutional reform initiatives.Obrador stated these proposals are geared towards enhancing the income of the population while also addressing improvements in the realms of justice and democratic processes, saying:It is a package of initiatives that has to do with well-being, that has to do with salaries, with pensions, with the reform of the Judiciary, the electoral reform, everything, on February 5. It is a package of important reforms for the benefit of the people of Mexico. May the government never again be at the service, nor the laws, of a minority, may we be able to vindicate the workers after those reforms that were approved in the neoliberal period, which are contrary to labor rights.The president reiterated the focus of a key initiative aimed at ensuring that employees enrolled in the Mexican Social Security Institute (IMSS) and the Institute of Security and Social Services of State Workers (ISSSTE) receive a fair pension equivalent to one hundred percent of their pre-retirement salary. He also clarified that the initiative specifically addresses the pension amounts received by retirees and is not related to Retirement Fund Administrators. Additionally, the president announced an upcoming reform initiative related to the functioning and revitalization of passenger trains in the country. He emphasized that this initiative is not a seizure of the right of way and reassured the public that it is focused on enhancing the operation and activation of passenger train services.