President Andrés Manuel López Obrador caused nervousness in the markets and the peso was close to 18 pesos per dollar due to the future reform of the Judiciary. Despite this, he emphasized that this constitutional modification will move forward because Justice is more important than market concerns. He likened the decision to choose between law or justice, progress or slavery, as they are defining factors.
Following the elections that favored the Let’s Keep Making History coalition, the dollar rose in relation to the peso and the qualified majority for the party was still uncertain. The reform of the Judiciary proposed by Morena legislators raised concerns in financial sectors due to the influence of oligarchs in the Judiciary.
President López Obrador assured that the reform will continue, even during the remainder of his administration, in an orderly and non-authoritarian manner. He encouraged dialogue among all sectors regarding the issue and emphasized the importance of maintaining respect for the Constitution and laws in the country.
The president highlighted that the discussion of the reform will not impact the transition with the next president, Claudia Sheinbaum. He reiterated the need to reform the Judiciary and emphasized the importance of electing its members through popular vote.
Overall, President López Obrador addressed concerns in the markets and reassured that the reform will proceed despite opposition from those who fear losing influence in the Judiciary. He welcomed the engagement of the Judicial Branch union in the debate and emphasized the need for a transparent and democratic process in electing judges, magistrates, and ministers.