Claudia Sheinbaum assumed the presidency of Mexico on October 1, 2024.
Claudia Sheinbaum assumed the presidency of Mexico on October 1, 2024, making history as the first woman to hold the office. His term begins with great expectations and challenges, as the country faces high levels of violence, stagnant economic growth, incomplete infrastructure projects and the consequences of natural disasters, such as the recent hurricanes that devastated Acapulco. In addition, it will have to deal with a growing fiscal deficit, a key issue that will require immediate strategic action.
One of the main questions surrounding Sheinbaum is whether she will manage to forge her own path or whether she will be seen as an extension of the mandate of her predecessor, Andrés Manuel López Obrador (AMLO). During her campaign, Sheinbaum emphasized continuity, pledging to continue with many of AMLO’s popular policies, especially regarding social programs and his “abrazos, no balazos” (hugs, not bullets) security strategy. However, this same strategy has been criticized for its ineffectiveness in reducing drug violence in regions such as Culiacán, suggesting that Sheinbaum will face pressure to adopt a more robust and effective approach.
On the economic front, Sheinbaum has a great opportunity ahead of her with **nearshoring**, as Mexico could consolidate itself as a major manufacturing hub due to the shift of industrial operations from Asia to Latin America. However, to capitalize on these opportunities, it will be crucial to address the fiscal deficit and improve the country’s infrastructure, with ambitious projects such as the expansion of the rail network. In addition, he has promised to attract foreign investment and create a more business-friendly environment, which will be vital to revitalize the economy.
In terms of foreign policy, one of the most controversial points of its inception has been the relationship with Spain. Like her predecessor, Sheinbaum has demonstrated a distant stance towards the European country. In a significant gesture, he did not invite the King of Spain to his inauguration ceremony, which has been interpreted as a continuation of the tensions that marked AMLO’s six-year term. López Obrador had demanded an apology from Spain for the abuses of the conquest, which deteriorated diplomatic relations and generated criticism of some Spanish companies in Mexico. It remains to be seen whether Sheinbaum will follow this line of confrontation or try to rebuild the link between the two countries.
With these elements in play, the Mexican population remains expectant. Although Sheinbaum presents a more technical and reserved profile compared to AMLO, her ability to manage critical issues such as violence, the economy and foreign relations, will be decisive in defining whether her presidency manages to consolidate as an independent government or if it is overshadowed by the shadow of her predecessor. The next few months will be crucial to make a difference.
Author: Ramiro de Iturralde