LatinNews Regional Monitor: Mexico - 29 October 2018

* The value of the Mexican peso fell to M$19.70/US$1 in local currency markets on 28 October following the announcement that the pubic consultation organised by President-elect Andrés Manuel López Obrador’s transition team over the building of a brand-new international airport to service Mexico City (NAIM) had delivered a vote against the project. This represented a significant 0.70% fall in the value of the peso compared to the M$19.35/US$1 exchange rate recorded on 26 October, and it reflects the market disappointment with the consultation result, which could lead to the cancellation of the US$13.3bn project and raises concerns about the incoming López Obrador administration's commitment to upholding state contracts signed by the outgoing administration led by President Enrique Peña Nieto.

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