Mexico’s Peso Sinks as Sheinbaum Embraces Judicial Reform

Mexico’s peso sank after President-elect Claudia Sheinbaum said a proposed reform of the nation’s judicial system would be among the first to be discussed in congress, spooking investors who worry it will erode checks on the ruling party.

A constitutional reform to the judiciary system will be part of a group of legislative projects left over from President Andres Manuel Lopez Obrador’s administration that she supports moving forward during the political transition, Sheinbaum said following a meeting with the outgoing president. She added that she would propose for the programs to be debated widely, not just by Congress but also by academics and civil society groups.