Interview with Armando Rios Piter, Former Senator and Presidential Candidate on Mexican Elections Impact in Foreigners

Introduction

Understanding the political landscape of Mexico is crucial for foreigners and expats considering a move to this vibrant country. Recent elections have sparked significant changes that could impact their experience living in Mexico. In this interview, we delve into the implications of these elections with Armando Rios Piter, a former senator and presidential candidate. He provides insights into how the recent electoral changes might affect foreigners living in Mexico.

Can you tell us a little about yourself and your background in politics?

Hi Brighton, nice to meet you! I have been involved in politics for about 25 years. I’ve served as a senator and congressman, and held several cabinet positions at both federal and state levels. I hail from Guerrero, a notable region in Mexico. It’s a pleasure to discuss how recent political changes will impact foreigners in Mexico.

What can you tell us about the recent elections in Mexico?

On June 2nd, we had the largest election in Mexico’s history. We elected the first female president, Claudia Sheinbaum, along with nine governors and the entire congress, which includes 128 senators and 500 federal congressmen. A total of 31 local congresses were elected, and 256 municipalities also held elections. The National Institute of Elections organized this massive event, which saw about 60% voter turnout from the 100 million eligible voters.

How secure were the elections, considering Mexico’s history with corruption?

The organization of the elections has improved significantly over the last 30 years. Citizens played a vital role by counting votes and ensuring transparency. While there are critics regarding government programs that provide financial assistance, the overall election process was secure. The new Congress will assume office on September 1st, and President Sheinbaum will take office on October 1st.

How will these elections impact foreigners living in Mexico?

We are witnessing a closer economic relationship between the United States and Mexico. Mexico is now a primary trade partner for the U.S., surpassing China. The trade agreement between Mexico, the U.S., and Canada continues to strengthen economic ties. Foreigners living in Mexico will benefit from this growing interdependence.

What is the Fourth Transformation, and how does it relate to the Morena party?

The Fourth Transformation refers to the current left-leaning government led by the Morena party, which aims to address historical issues like corruption and violence. They believe they are part of a significant historical change in Mexico, akin to the independence movement and the revolution. The party focuses on social programs to alleviate poverty and income inequality.

What can you tell us about the Morena party’s policies?

The Morena party prioritizes social programs aimed at assisting the underprivileged. They are committed to directing public budget allocations to areas with high poverty rates, especially in the southern regions of Mexico. Their focus on social equity is a cornerstone of their political agenda.

What changes do you foresee in the exchange rate under the new administration?

The exchange rate has fluctuated significantly in the past, especially during election cycles. Currently, the peso is expected to stabilize around 18.50 to the dollar by the end of the year. This volatility is typical as investors assess the new government’s priorities and policies. The economic activity in Mexico will be influenced by how the new administration addresses these issues.

What are the implications of energy policies under President Sheinbaum?

President Sheinbaum has a background in sustainability and ecology, which could lead to a shift towards more competitive and sustainable energy sources. While she has committed to continuing some fossil fuel policies, her expertise might steer the country towards innovative energy solutions. This is crucial for Mexico’s economic competitiveness under the North American trade agreement.

How will fiscal policies and minimum wage changes affect foreigners in Mexico?

Currently, fiscal policies are not expected to change drastically in the first year. There are discussions about tying minimum wage to inflation, but significant changes are unlikely until 2025. This will affect the cost of living and may influence visa requirements for foreigners.

What is the current safety situation in Mexico, and how might it change?

While safety varies across regions, there are specific hotspots of violence. President Sheinbaum has acknowledged this issue and is prioritizing safety and judicial reforms. Her administration will focus on enhancing crime prevention strategies and addressing the root causes of violence, which will impact both locals and foreigners.

How do you see U.S.-Mexico relations evolving with the upcoming U.S. elections?

The U.S. elections will significantly influence the relationship between the two countries. Regardless of whether Biden or Trump wins, both parties recognize Mexico’s strategic importance. Topics like migration and drug-related violence will remain central to discussions. A shift in leadership could alter the tone of diplomacy, but economic ties will likely remain strong.

What advice do you have for foreigners considering moving to Mexico?

Foreigners should stay informed about the political landscape and economic changes. Engaging with local communities and understanding the culture will be beneficial. Additionally, exploring investment opportunities, such as opening an account with Actinver, can help in managing finances while living in Mexico. Actinver provides resources for foreigners looking to invest and navigate the financial landscape.

Conclusion

In summary, the recent elections in Mexico have set the stage for significant political and economic changes that will directly impact foreigners living in the country. With a new female president at the helm and a focus on social equity, the future looks promising for those considering a move to Mexico. Understanding the evolving landscape will be key to thriving as an expat in this dynamic environment. Support this channel by buying me a margarita over at Buymeamargarita. The Mexico Relocation Guide is the perfect resource for moving to Mexico. Check it out for detailed information on retiring and living in Mexico.