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The high levels of debt from the world’s leading oil company pose a challenge for the incoming leader of New Mexico.


Mexico’s outgoing President Andrés Manuel López Obrador handed over power to his successor, Claudia Sheinbaum. The transition was marked by a joint celebration, symbolizing their victory. Sheinbaum inherits a strong economy that is benefiting from nearshoring with the US and attracting investments from companies like Amazon and Volkswagen. However, challenges lie ahead, particularly with the state-run energy firm Pemex, which is facing a massive debt burden and declining productivity.

Critics argue that the focus on fossil fuels and support for Pemex under López Obrador’s administration has left the company poorly positioned for the transition to cleaner energies. Sheinbaum will need to address these challenges while balancing Pemex’s economic difficulties with Mexico’s climate change responsibilities.

The incoming President also faces complex cross-border issues with the US, with the United States-Mexico-Canada Agreement up for renegotiation in 2026 and potential challenges regarding judicial reform. Despite these challenges, Sheinbaum enjoys significant support from the ruling party and has promised to extend López Obrador’s social programs.

As Sheinbaum navigates these economic obstacles and international relations issues, her administration’s approach to Pemex and environmental concerns will be closely watched. With a loyal congress and potentially control over the judiciary, she has the power to make significant changes in Mexico’s economic landscape.

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Photo credit www.bbc.com

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