07162018Mon
Last updateFri, 13 Jul 2018 7am

Markets unruffledafter AMLO triumph

Mexico’s financial markets have registered calm in the aftermath of the victory by leftist presidential candidate Andres Manuel Lopez Obrador, despite some earlier predictions that economic disruption might occur.

Although the peso lost ground July 2, Mexico’s currency rallied to 19.10 to the dollar, from 19.55, Tuesday, following a meeting between the victor and Mexican President Enrique Peña Nieto.  This was a gain of around 2.5 percent.

“We need to make sure the transition is orderly, peaceful, that there aren’t any shocks and that there’s confidence in the economy,” Lopez Obrador told the media after the meeting.

To calm the fears of investors and the business community, the president-elect promised to respect the autonomy of the  central bank, guarantee fiscal responsibility and collaborate with the current administration on the 2019 federal budget.

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