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Weekly Report - 29 October 2020 (WR-20-43)

Mexican government scraps trust funds

The Mexican government faced a firestorm of criticism this week after the senate approved a bill backed by President Andrés Manuel López Obrador abolishing 109 trust funds. The López Obrador administration ostensibly promoted this bill in order to channel some M$68bn (US$3.1bn) contained within the trust funds to address the economic impact of the coronavirus (Covid-19) crisis, and uphold an electoral promise to root out corruption. The senate approval of the bill, criticised by the political opposition, followed two weeks of demonstrations staged by scientists, artists, and intellectuals outside congress. The protesters savaged the bill, which they said would cut vital support for science and technology research, as well as funds for culture and sport in the country, after it was pushed through the lower chamber of congress by deputies representing the ruling left-wing Movimiento Regeneración Nacional (Morena) on 6 October.

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