New Reforms / Remittances

New Reforms. President Claudia Sheinbaum has confirmed that she will submit initiatives to Congress, today. These initiatives primarily focus on secondary laws related to the 14 constitutional reforms put forward by former President López Obrador. "Several initiatives will be sent. I will shortly announce, during the event, some of the constitutional reforms we are submitting today," stated Sheinbaum.

In the first three months of Claudia Sheinbaum’s administration, Congress approved half of the constitutional reforms enacted during the entire term of López Obrador. The majority held by MORENA and its allies in Congress has enabled Sheinbaum to accelerate the approval of reforms, a flexibility López Obrador lacked, which often required extensive negotiations with opposition parties.

Remittances. President Claudia Sheinbaum emphasizes the record-breaking remittances flow in 2024, which reached US$64.745 billion dollars.

According to Banxico, the total remittances amount experienced a modest annual increase of 2.3%, the slowest growth rate since 2013. BBVA analysts were surprised by the underperformance of remittance inflows at the end of 2024, particularly as the year-end holiday season usually boosts these funds. They attributed the weaker-than-expected results to various factors, including the election of Donald Trump. Analysts anticipate that this trend of subdued growth may persist in the coming months.

Mexico-Querétaro Train. President Claudia Sheinbaum has confirmed that work on the Mexico-Queretaro Train is underway. Efforts are also focused on preparing the environmental impact statement and finalizing the design of the stations, including the terminal. Sheinbaum emphasized that construction is set to commence in April 2025, with an estimated completion time of two and a half to three years.

The train route is expected to foster further development in Queretaro, connecting the region with two additional northern routes: one to Nuevo Laredo, Tamaulipas, and another to Nogales, Sonora. The main stations for the Mexico-Queretaro line will be located in Buenavista, Mexico City; San Juan del Rio, Queretaro; and Queretaro’s capital. Jesús Esteva, Minister, SICT, says that the Mexico-Queretaro train will reduce travel time between Mexico City, the State of Mexico, Hidalgo, and Queretaro by 40% to 1 hour and 40 minutes. 

Tensions With Spain. Claudia Sheinbaum reaffirms that there is still an ongoing issue with Spain, but emphasized that this does not impact bilateral relations. "The apology request made by President López Obrador does not overshadow the excellent ties we maintain in tourism, economics, and the significant number of Mexicans living there. The connections remain strong."

In 2019, President López Obrador read aloud the letter he sent to King Felipe VI of Spain, in which he requested an apology from Spain for the violence associated with the Conquest. He noted that no response was received. While relations between the two countries continued, there was a pause in political matters. It was previously announced that King Felipe VI was not invited to the inauguration of President Claudia Sheinbaum, and that the Spanish government decided not to participate in the ceremony at any level.