Economics

Mexico to Vote in Project Referendums That Have Sunk Markets

Concern about consultations have sent the peso tumbling
Methods of the consultation have been widely criticized

The first terminal of the New International Airport of Mexico City (NAICM) stands under construction in Texcoco, Mexico, on Nov. 6, 2018. — The first terminal of the New International Airport of Mexico City (NAICM) stands under construction in Texcoco, Mexico, on Nov. 6, 2018.
Photographer: Brett Gundlock/Bloomberg

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By Justin Villamil

November 23, 2018 at 4:07 PM UTC

Updated on

November 23, 2018 at 9:12 PM UTC

This article is for subscribers only.

Mexico will hold public consultations this weekend to decide the fate of 10 infrastructure projects, including a train across five southeastern states and an oil refinery in Tabasco state. The process has roiled local markets.

Fresh on the heels of an October referendum that ended in the cancellation of a partially built $13 billion airport in Mexico City, the consultations will take place on Saturday and Sunday.