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LatinNews Regional Monitor: Mexico - 23 August 2018
In brief: Mexico
*Moody’s Investor Service, the international credit ratings agency, has issued a new comment note in which it warns that the cancellation of the project to build a new international airport for Mexico City (NAICM) would negatively impact Mexico’s domestic economy. The future of the US$13.3bn project launched earlier this year by the outgoing government led by President Enrique Peña Nieto remains in the balance after President-elect Andrés Manuel López Obrador, who assumes office in December, has said that he is against the project and has mooted scrapping it. López Obrador says that he does not believe that the project represents value for money and has proposed holding a public consultation on whether it should go ahead or be replaced with an alternative project. Noting that the existing NAICM project, which is currently 32% complete, is among the largest of its kind in the world, Moody’s said that its cancellation would negatively affect associated investment projects as well as undermine the competitiveness of Mexico’s tourism sector for years to come.
