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A woman holds up a sign reading “AMLO out” in Spanish during a protest, Mexico City A woman holds up a sign reading “AMLO out” in Spanish during a protest in front of the National Palace, Mexico City, May 30, 2020 (AP photo by Rebecca Blackwell).

AMLO Promised a ‘Transformation.’ It’s Been a Disaster for Mexico’s Economy

, Wednesday, July 8, 2020

Around the world, the blunt measures imposed by central governments to fight the COVID-19 pandemic are causing widespread economic hardship. In its latest report on the state of the global economy, the International Monetary Fund forecasts that most advanced and emerging economies will experience their worst downturns since the Great Depression, as global GDP is set to contract by an estimated 4.9 percent this year. The recovery will not come fast, it warns, with growth expected to be sluggish in 2021.

Mexico is no exception, but its economic troubles predate the pandemic. And while most countries are crafting policies to claw their way out of this catastrophe, Mexican President Andres Manuel Lopez Obrador has pursued an improvised and messy strategy that might trigger the worst depression the country has seen in almost a century. Foreign investors should worry. Mexican citizens and business leaders should panic. ...

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