Mexico's Sheinbaum backs Lopez Obrador's judicial reform, says 'nothing to worry about'

  • World
  • Friday, 14 Jun 2024

Mexican President-elect Claudia Sheinbaum holds a press conference in Mexico City, Mexico. June 11, 2024. REUTERS/Raquel Cunha

MEXICO CITY (Reuters) -Mexico's President-elect Claudia Sheinbaum said on Thursday that judges in the country should be elected, echoing her agreement with a controversial judicial reform proposed by outgoing President Andres Manuel Lopez Obrador.

Mexico's peso currency and stock market have tumbled since the June 2 landslide victory of the ruling Morena party and its allies in Congress, stoking investor fears lawmakers will use the mandate to pass a series of constitutional reforms.

Although none of the measures are welcomed by investors, some observers are particularly nervous about proposed changes to Mexico's court system, which would include the popular election of Supreme Court judges.

Sheinbaum tried to calm investor nerves on Thursday, saying the reforms should be better understood by all, and she would promote an open forum to discuss them.

"My opinion is that judges should be elected," she said in a press conference. "But it is also important that (the reform) is understood."

She asserted that investments in Mexico would continue.

"Mexico's economy is healthy, it's strong, and there's nothing to worry about."

Sheinbaum attributed the "soundness" of Mexico's economy to her predecessor and mentor Lopez Obrador, promising that the economic model he pursued would continue.

"Neoliberalism is not going to return to our country," she said.

Sheinbaum's comments did not provoke an immediate reaction from the peso, which maintained gains of around 1.6% against the dollar on Thursday after logging sharp losses in the last two sessions.

(Reporting by Anthony Esposito and Lizbeth Diaz; Editing by Brendan O'Boyle and Daniel Wallis)

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