Sheinbaum not happy with Moddy’s lowering Mexico’s grading — MercoPress

Sheinbaum not happy with Moddy’s lowering Mexico’s grading

“We are going to get ahead next year,” Sheinbaum insisted

Mexican President Claudia Sheinbaum Friday expressed her disappointment after the credit rating agency Moody’s lowered her country’s grading from stable to negative citing an alleged “institutional weakening.” The newly elected head of state insisted “more arguments or evidence” were needed to back up that claim and denounced that there was a bias against Mexico. On Thursday, Moody’s changed Mexico’s credit outlook from stable to negative, due to a recent reform to the Judiciary.

“There are many, many investments for Mexico in 2025, there is a portfolio of investments; we are working with businessmen, Mexican businesswomen, from the United States, particularly, to continue increasing these investments in our country,” Sheinbaum underlined. “Investments for us have to generate not only the number of Foreign Direct Investment but welfare for Mexicans,” she added.

The Economic Package for the 2025 fiscal year, delivered this Friday to Congress is “very solid” and includes “important changes in the way the budget is distributed, the deficit is reduced, and that also implies a greater effort by the entire Government of republican austerity,” Sheinbaum also explained. “We are going to get ahead next year,” she also underlined.

“This does not imply affecting the operation of the country or the Government, but it does imply some adjustments,” she went on while arguing that these modifications would not affect the so-called Welfare Programs, public investments, or the Petróleos Mexicanos (Pemex) funding.