Mexico

Analysis-Mexico Central Bank Has Growing Inflation Challenge: Extortion

Beyond the common challenges like currency fluctuations and supply shocks that keep the world's central bankers up at night, in Mexico there is an additional foe for those conjuring monetary policy: protection rackets, Reuters reported. Extortion has become a massive problem in Mexico, with powerful drug cartels exerting deep influence over swathes of the country. Keen to establish new revenue streams, these groups have been turning to extorting businesses by forcing them to pay protection money. One unintended consequence: inflation.
Mexico
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Mexican Judges Strike in Protest of Planned Judicial Overhaul

Hundreds of Mexican federal judges went on strike Wednesday to protest a judicial-system overhaul that they say is an authoritarian power grab by departing President Andrés Manuel López Obrador, the Wall Street Journal reported. Under the proposed overhaul, judges would be required to step down and be replaced by others elected by voters. Currently, judges are appointed after a lengthy process that includes exams showing their knowledge of the law.
Mexico
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Altos Hornos de México Falls into Bankruptcy After Failing to Forge Agreement

Mexican steelmaker Altos Hornos de México (Ahmsa) announced that it will enter bankruptcy after failing to reach an agreement with creditors, although it continues to work to attract investors to capitalize the company, Bnamericas reported. A second 90-day extension period to negotiate with creditors to end the bankruptcy proceedings came to an end on August 4 without sufficient agreements being hammered out on the sums owed by the firm.

Mexico
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