Claudia Sheinbaum Elected First Female President – Mexico Election 2024. We have just received the latest exit polls. Local broadcasters are saying that they see Claudia Sheinbaum who was perceived as a frontrunner during the entirety of the race winning the election.
She is expected to receive a vote between 58% and 63%. Of course, we are still waiting for official results.
Those should be coming within the next half hour and into the night, and that will give us greater certainty on the gap. Why is the gap so important between Claudia Sheinbaum and the next candidate? The reason is all about Congress.
Claudia Sheinbaum Elected First Female President – Mexico Election 2024
Investors are already expecting that the ruling party will receive a simple majority, and that’s why we have not seen a major market reaction so far.
But there is a lot of expectation about whether the ruling party might actually end up getting a two-thirds majority, which would allow them to make constitutional changes.
That could make big changes in some of the institutions in Mexico. We are waiting to have more certainty on what Congress will look like and whether the ruling party will indeed get this two-thirds majority.
This will be very important for President Claudia Sheinbaum because it would give her the strength to govern with a lot of power.
The opposite scenario would mean that she would have to work much more with the opposition coalition.
Who is Claudia Sheinbaum in Mexico?
According to Wikipedia, Claudia Sheinbaum Pardo is a Mexican politician, scientist, and academic. Sheinbaum served as Head of Government of Mexico City, a position equivalent to that of a state governor, from 2018 to 2023.
Claudia Sheinbaum is likely to be Mexico’s next President:
Regardless of what happens in Congress. This is a historic election. We are headed to a result where Mexico will have the first woman president in its history.
In terms of policies that investors are looking out for, what might they be? What type, what kind of priorities are they hoping to see?
Well to start. One of them is what the next president will do with government spending. The previous president, Andrés Manuel Lopez Obrador, was famous for what he called his own austerity even during the pandemic.
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He was very careful with his spending. All of that went out the window in this past year of his administration, where he ramped up spending to some levels that investors and analysts have said could create some challenges for the next president and could require some kind of fiscal reform.
So that’s the first thing that that investors are going to be looking at. They’re certainly going to be looking at how Mexico, Mexico’s relationship with the US continues. Of course, it’s now the biggest trading partner for the U.S.
So how this relationship will be managed is going to be key for the country. And finally, another thing that investors are really interested in is what’s going to happen with a state oil company, Petroleos Mexicanos or Pemex.
This is the world’s most indebted oil company, and it has a lot of support from the government. So whatever the next president decides to do, to move forward will be key.
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