Ciudad Juarez.– The overrepresentation of Morena in Congress, the approval of the Judicial Reform as it is proposed and the elimination of autonomous bodies will generate an unfavorable environment for competition, a weakening of confidence and an increase in financial risks, assured the Mexican Institute of Executives in Finance (IMEF).
In a statement, the Court noted that the reform of the Judiciary, which includes reducing the number of Supreme Court justices and the election of judges by popular vote, would reduce investors’ trust and legal security due to the uncertainty in the process of appointing judges and the politicization of the appointments.
He added that the elimination of autonomous bodies such as the Federal Economic Competition Commission (Cofece), the Federal Telecommunications Institute (IFT), the National Institute for Transparency, Access to Information and Protection of Personal Data (INAI), and others, would also have serious consequences for investor confidence.
The IMEF stressed that the above would reduce or eliminate the opportunity that nearshoring represents by slowing or delaying the investments that Mexico needs to grow above 2 percent of GDP, which is the average growth rate in the current century. It stressed that private investment is required as the main driver of economic growth.
He urged the Congress of the Union to reconsider the issues raised in the proposal for Judicial Reform and to maintain the autonomy and independence of the autonomous bodies. He assured that it is important to take measures to guarantee legal security, transparency, accountability, as well as free competition and concurrence in the Mexican market.
Regarding over-representation, he said that it would lead to a concentration of power and a weakening of the balance of powers: “In any democracy, it is desirable to have checks and balances to maintain a balanced, fair and transparent democratic system where power is distributed to protect the rights of all citizens,” he said.
[email protected]
#Reform #affects #investor #confidence