Mexico's President Stays Silent on Pledge to Scrap $13 Billion Airport
- Confirming airport canceled could lead to $6 billion crisis
- Instead, AMLO wants to reach a deal with airport bondholders
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Andres Manuel Lopez Obrador pledged to cancel a $13 billion airport countless times when he was a candidate and then as Mexico’s president-elect. But now that he’s taken office, the leftist politician is conspicuously silent on the matter.
That’s because any government statement about scrapping the project could open the door for investors to declare an event of default on $6 billion of overseas bonds tied to its construction and demand immediate repayment. So the normally verbose Lopez Obrador, who prides himself on transparency, was notably evasive with journalists Monday.