Mexico's economy: Crunch time

Sep 25, 2013

As economic indicators flag, Mexico's president remains determined to transform the country. But getting the law through congress could be complicated

By Lucy Conger

Coming up to a year after he was elected to power on a sweeping reform agenda, Enrique Peña Nieto, Mexico's president, remains just as staunchly determined to push through changes.

In his first state-of-the-union address, he pledged to see through the reforms he has already tabled to address education, labor, telecommunications, finance, competition and energy - and to get the fiscal reforms to congress within days.

To underscore his point about the revolution he intends to forge, the president used the words "change", "transformation" and "reform" no less than 68 times during his 61-minute speech.

The agenda is ambitious, and Peña Nieto is in a hurry. He called for congress to pass his reform proposals by year-end.

While the much-vaunted Mexico moment came and went this year, the country can still build momentum in growth and productivity - if you believe Peña Nieto. Under his plan, Mexico will boast a...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management