Economy & Finance
Foreign Policy - Mexico's president threw open the door to reforming the energy sector, potentially reversing 75 years of revolutionary legacy. Now the ambitious overhaul is colliding with messy political reality.
Reuters - The pace of Mexican factory exports picked up in May, while non-oil consumer imports also rose, pointing to an economic recovery that is gaining traction in Latin America's No. 2 economy.
Bloomberg - Mexican consumer prices fell less than expected in May as costs for some farm products increased, three days after the central bank unexpectedly cut interest rates. The decline was still the biggest in a year.
EFE - Mexico's foreign reserves rose by $990 million last week to $188.26 billion, the Bank of Mexico said. Gold and foreign currency reserves increased mainly due to a sale of dollars by Pemex to the central bank.
WSJ - Over the past decade, Amado Yáñez Osuna was a highflying CEO with good political ties. He turned up at events with prominent ruling-party members, and lent his private jet to party officials. But then the party lost power.
WSJ - In a setback for the government of President Enrique Peña Nieto, Mexico's central bank on Wednesday slashed its economic-growth forecast for this year after weak activity during the first quarter.
Reuters - Mexico's Congress will convene for a special session from today, Wednesday, to approve a pending electoral reform, which should ease a legislative logjam hampering passage of bills to implement major economic reforms.
WSJ -Economists polled in April by the Bank of Mexico lowered their estimate for Mexico's economic growth this year to 3% from 3.1% the previous month, a third consecutive reduction in the forecast after a sluggish start to the year.
Reuters - Mexico's public sector ran a fiscal deficit of 61.9 billion pesos ($4.73 billion) during the first quarter of 2014. During the same three-month period last year, the government ran a surplus of 40.2 billion pesos.
EFE - Mexico's foreign reserves rose by $503 million last week to $184.01 billion, the Bank of Mexico said. Gold and foreign currency reserves grew in the week ending April 25.