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LatinNews Daily - 05 July 2018

In brief: Mexico

* Mexico’s virtual president-elect Andrés Manuel López Obrador has announced a M$40bn (US$2.04bn) package to provide a universal pension for elderly Mexicans and to create a universal pension. López Obrador insisted that the funds for the universal pension would be found without the need to raise taxes or issue public debt. Instead, he said that his proposed ‘Republican austerity’, cutting wasteful government expenditure, as well as combating official corruption, would provide his government with the requisite funds.