Video: How Will Mexican Elections Impact Foreigners and Expats?

Published July 7, 2024

Welcome to another episode of “Almost Retired in Mexico”!

If you’re a foreigner considering a move to Mexico or just curious about the political landscape and its implications, you won’t want to miss this insightful episode.

In this comprehensive discussion, our host Brighton West sits down with Armando Rios Piter, a former senator and presidential candidate, to delve into the recent monumental changes in Mexico’s political sphere. The conversation highlights the implications of Mexico’s recent major election, which resulted in the historic election of the first female president, Claudia Sheinbaum, and significant shifts in various political offices across the nation.

**Key Topics Covered:** 1. **Historic Re-Election of Senators and Congressmen**:

For the first time in Mexico’s history, senators and congressmen can now seek re-election for a second term. This significant change opens up discussions about the potential impacts on political stability and policy continuity.

2. **Claudia’s Presidential Mandate**: With a background in sustainability and ecology, President Claudia Sheinbaum is expected to steer Mexico towards innovative energy solutions while focusing on critical issues such as safety, violence, and judicial reforms. Learn how her leadership could shape Mexico’s future.

3. **Economic Insights**: Discover the latest on Mexico’s minimum wage, which could be tied to inflation, with potential discussions slated for 2025. Additionally, we explore the fluctuating exchange rate between the peso and the dollar, offering predictions for future economic shifts under the new administration.

4. **US-Mexico Relations**: Regardless of the outcome of the US presidential elections, the relationship between the US and Mexico remains a focal point. Armando Rios Piter emphasizes the strategic alliance between the two countries, covering key topics like migration, fentanyl, and national security. Brighton West also weighs in on the potential impacts of a Biden or Trump win, including how either administration could affect economic and diplomatic ties.

5. **Foreign Investment and NAFTA**: Mexico continues to attract significant foreign investments, particularly from China and Asia, thanks to its proximity to the US and the trade treaty with Canada and the USA (formerly NAFTA). Learn why Mexico is becoming an increasingly strategic player in the global economic arena.

6. **Fourth Transformation and Social Programs**: Delve into the “fourth transformation” of Mexico, marked by the rise of the left party, Morena. This transformation underscores efforts to implement social programs aimed at tackling poverty and income inequality—a crucial element for the country’s development.

7. **Investment Opportunities**: For those interested in investing in Mexico, Armando recommends Actinver, a bank offering a range of investment options such as bond funds, CDs, and access to the Mexican stock exchange.

8. **Citizen Participation and Democratic Security**: The discussion extends into the security of Mexico’s election process and the growing participation of Mexican citizens residing abroad, especially in the United States. Armando underscores the importance of sustaining the integrity of democratic processes and the role of expatriates in shaping the country’s future.