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33 Days Before AMLO’s Inauguration, Investors Are Fleeing Mexico

  • Lopez Obrador had promised businessmen an orderly transition
  • Peso, stocks on Monday slumped the most in almost two years
Andres Manuel Lopez Obrador
Andres Manuel Lopez ObradorPhotographer: Mauricio Palos/Bloomberg

Andres Manuel Lopez Obrador’s honeymoon with investors came to a screeching halt 33 days before he’s due to assume the Mexican presidency.

His decision to rip up a $13 billion airport project when he takes office in December sent markets into a tailspin. The peso sank 3.5 percent and pierced 20 per dollar, the stock market lost more than $17 billion in value and JPMorgan Chase & Co. slashed its 2019 economic growth forecast, saying the central bank will now likely have to raise interest rates to slow capital flight.