Judicial Reform Could Be Amended: López Obrador

President López Obrador has expressed openness to modifying the judicial reform initiative, stressing the need for changes to bolster its efficacy. López Obrador particularly emphasized a proposed amendment aimed at removing the mandatory five-year experience requirement for judges, a change he supports. He argues that recent law graduates often bring fresh perspectives and a strong commitment to upholding the law, without being influenced by potentially negative professional habits that years of experience might cultivate.

"We do not want our initiative approved without so much as a comma being removed. If there are improvements to be made, if there are enhancements to be added, then let us proceed. The current requirement for five years of experience was omitted from the initiative, and I oppose its inclusion. I advocate for fresh law graduates, both men and women, who bring enthusiasm and dedication to the enforcement of the law."

The Judicial reform, part of the Plan C, seeks to restructure power by popularly electing Supreme Court justices, reducing the Supreme Court plenary from 11 to nine justices, replacing the Federal Judiciary Council with an independent judicial administration body, prohibiting the Supreme Court from suspending laws, establishing maximum time limits of six months for the resolution of tax matters and one year for criminal matters, and renewing all Supreme Court justices' positions in 2025. 

The Chamber of Deputies has established a rigorous six-week schedule to hold forums on the judicial reform, aiming to deliberate and prepare it for endorsement by the 66th Legislature commencing on Sept. 1, 2024. 

Investors initially expressed concerns over the judicial reform, fearing it might remove critical safeguards in Mexico and potentially lead to unfair treatment of foreign companies by new magistrates. However, these concerns have subsided following Claudia Sheinbaum's announcement of her new cabinet. Industry experts have highlighted the appointment of Marcelo Ebrard as the new Minister of Economy, interpreting it as a positive signal toward business openness. As a result, market anxieties have eased, and currently, the peso is trading at MX$18.01 per dollar. However, experts have emphasized that confidence levels have yet to fully recover since the elections.