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Economy & Business - November 2020

MEXICO: Elimination of trust funds increases centralisation

Mexico’s federal congress has approved a legislative initiative tabled by the executive led by President Andrés Manuel López Obrador that eliminates 109 of the country’s 338 public trust funds and gives the federal government complete control over the cash held in these funds. The public trust funds are independent entities set up to provide funding for specific causes in a flexible and politically impartial manner. The decision to eliminate some of these trusts has incited controversy with critics accusing the López Obrador administration of raiding the trust funds to secure additional financial resources to the detriment of things such as public funding for scientific research, culture, emergency healthcare, and even disaster relief.

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