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Mexico & Nafta - September 2019

Introduction
The September issue of the Regional Report: Mexico & Nafta includes articles on the economic measures that the government led by President Andrés Manuel López Obrador has adopted to try to reactivate domestic economic growth; criticisms over the administration’s efforts to improve public security and reduce violence; and on the difficulties faced by Mexico’s flag-carrier airline...
Economy
A preliminary report posted by the Mexican National Statistics agency on 30 July 2019 ahead of the official release of data on the second quarter of 2019 on 23 August showed that the Mexican economy expanded by 0.1% over April-June, when adjusted for seasonal swings...
Extractives
The 2019 business plan for Petróleos Mexicanos (Pemex), the state-owned petroleum company, aimed at resolving the ongoing financial problems that have made it the world’s most indebted oil company, was announced on 16 July...
Infrastructure
On 2 July 2019, the project to expand and modernise the Veracruz port marked an important milestone with the arrival of the Maltese-flagged container ship White Shark at the new purpose-built container terminal (TEC), built by Hutchison Ports-ICAVE...
Security
Recent cases suggest witness protection programmes are inadequate and are contributing to criminal impunity...
In recent years much of the focus has been on Mexico’s (rising) drug trafficking organisation (DTO) violence, and on the country’s (falling) outflow of undocumented migrants bound for the United States...
Security Policy
Comments made by Mexico’s interior minister, Olga Sánchez Cordero, have led to speculation that the government is exploring the possibility of reaching some sort of pact with armed criminal groups that would help to reduce the high levels of violence in the country...
Business
Despite steady growth in passenger numbers in the first half of 2019, Grupo Aeromexico has been something of a cause for concern for investors, after it reported losses of more than US$46m (M$897m) in the fourth quarter of 2018...
Highlights
Interest rate cut: On 15 August Mexico’s central bank (Banxico) reduced its benchmark interest rate to 8% from 8.25%...

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