Sunday, July 6, 2025

Ebrard shares news of US $300B in investments planned for Mexico: Thursday’s mañanera recapped

By
MND Staff
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President Sheinbaum at the podium during her morning press conference
After international organizations lowered Mexico's economic growth forecast, Sheinbaum sought to focus on good news on Thursday. (Presidencia)

After both the International Monetary Fund and the World Bank slashed their 2025 economic growth forecasts for Mexico, the federal government is at pains to paint a rosier picture.

President Claudia Sheinbaum has expressed her disagreement with the pessimistic forecasts, claiming that they don’t take into consideration her government’s plans to boost the economy.

At the president’s Thursday morning press conference, Finance Minister Marcelo Ebrard provided an update on the investment that is expected to flow into Mexico in the coming years, while Sheinbaum herself highlighted Mexico’s “macroeconomic stability” when asked a question about the performance of the Mexican peso.

Almost $300 billion in the investment pipeline 

After Grupo Modelo executive Raúl Escalante announced a US $3.6 billion investment in Mexico over the next three years, Ebrard took center stage to present an update on Mexico’s so-called “Portfolio for Shared Prosperity.”

The portfolio is currently made up of 1,937 private sector projects across all 32 federal entities, Ebrard said.

It includes projects to be executed by both Mexican and foreign companies in Mexico.

Ebrard said that the 1,937 “confirmed projects” represent investment of US $298 billion between now and the end of the six-year term of the current government in 2030.

“More or less this represents 16% of the gross domestic product of our country — $298 billion Madam President, that’s what we have [in the investment pipeline],” he said.

The almost 2,000 investment projects include those announced by major companies such as Tesla, BYD, Walmart, Amazon and Mercado Libre.

Despite global uncertainty due to the United States’ protectionist policies and other factors, Ebrard said that none of the announced projects have been canceled.

However, there is no guarantee they will all go ahead either.

For example, the construction of a so-called Tesla “gigafactory” in Nuevo León — announced by the company more than two years ago — doesn’t currently appear to be overly likely.

Why invest in Mexico? For its hard-working people, Sheinbaum says

Asked to identify the “advantages” of investing in Mexico compared to other countries, Sheinbaum promptly cited Mexico’s “hardworking” people.

“This image that was promoted for a period, of a Mexican with a sombrero sitting down under a nopal cactus as if we were lazy, is completely false,” she said.

“The people of Mexico work here and our migrants work there and drive the economy of the United States forward,” she said.

Safran CFM jet engine
Sheinbaum highlighted Mexico’s skilled labor force as a draw for investment. (Cyril Abad/CAPA Pictures/Safran)

“So that is the first thing,” Sheinbaum said.

She also mentioned that the availability of “skilled” labor in Mexico has increased, and continues to increase, telling reporters that Mexico is among the world’s largest trainers of engineers.

Sheinbaum highlighted that “cheap labor” used to be the top selling point for investors in Mexico, but asserted that is no longer the case.

“Mexico is great and it has everything to keep on developing,” she added.

Is the ‘super peso’ making a return? 

A reporter noted that the Mexican peso was trading at 19.57 to the US dollar on Thursday morning and asked the president why the currency had strengthened at a time when there are “tariff tensions” with the United States.

“There is a lot of strength in the Mexican economy, there is macroeconomic stability, responsibility in the use of public resources, in the use of the budget,” Sheinbaum responded.

“In other words, the macroeconomic variables are good,” she said.

“There is a Bank of Mexico with autonomy, that is taking good decisions. Interest rates were lowered here,” Sheinbaum added.

She also attributed the strength of the peso to the absence of inflation, even though Mexico’s headline rate was close to 4% in the first half of April, up from 3.80% across March.

“There is no inflation. The inflation level just came out, it’s the same number as last month,” Sheinbaum said.

“So there is macroeconomic stability. Then there is public investment, private investment and there is an [economic plan],” she said, referring to the government’s Plan México initiative.

“And there is political strength, social strength, economic strength in the country. That is shown in the stability of our currency,” Sheinbaum said.

The peso reached an almost nine-year high of 16.30 to the dollar in April 2024, but depreciated significantly later in the year.

It depreciated to above 21 to the dollar earlier this month, but bounced back after U.S. President Donald Trump’s April 9 announcement that he was lowering the United States’ maximum “reciprocal tariff” rate to 10% for at least the next 90 days.

By Mexico News Daily chief staff writer Peter Davies ([email protected])

European Union rep confirms updates to trade agreement with Mexico

By
MND Staff
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European Union Vice President Teresa Ribera in front of a European flag
Teresa Ribera, one of the European Union's six vice presidents, visited Mexico this week. (Gobierno de España CC BY-NC-ND 2.0)

The trade agreement between the European Union and Mexico will be updated to include an energy chapter, the EU’s Executive Vice President for the Clean, Fair, and Competitive Transition, Teresa Ribera, announced on Wednesday.

The new chapter of Europe’s trade deal with Mexico is expected to focus on the transition to clean and renewable energy, as well as energy and agri-food sustainability, Ribera said during her visit to Mexico.

“In recent months, we have reached an agreement to modernize a global agreement that over the last 25 years has brought very important benefits to our societies and our economy,” Ribera stated during a Wednesday press conference.

The agreement, which has enhanced trade relations between the two powers, was signed in 1997 and entered into force in 2000. The EU has since become the second-largest investor in Mexico and its third-largest trade partner globally.

Ribera discussed the geopolitical pressures being faced by several countries worldwide due to the United States trade war and the imposition of tariffs by U.S. President Donald Trump.

“It is very difficult to predict what could happen because circumstances show that reality can change very quickly,” said Ribera.

The new energy chapter 

Mexico’s President Claudia Sheinbaum announced on Jan. 23 that the energy sector had been excluded from the EU-Mexico trade agreement.

However, during her visit, Ribera said that energy policies had been discussed in general terms, although it is not clear to what extent it is reflected in the agreement.

“There is close and intense cooperation on energy matters between the EU and Mexico,” said Ribera.

Unofficial sources said that the agreement is expected to be approved by the end of the year, pending the standard bureaucratic process for legislation in the EU, and an updated treaty has already been drafted, the Mexican newspaper La Jornada reported.

A European Union flag
The updated Mexico-EU trade deal is expected to be approved by the end of the year. (Christian Lue/Unsplash)

“Nothing is stopping the signing beyond the usual bureaucratic processes that we all must comply with, in our case, with a certain degree of complexity,” Ribera explained.

Ribera emphasized the importance of international cooperation to support a green transition, stressing that the U.S. withdrawal from the Paris Agreement will not halt progress.

“The world has 192 countries, and if the United States leaves the agreement, the rest of us must continue,” she added.

With reports from La Jornada and El Sol de México

Protests and confusion in Mazatlán after ‘gringo’ supposedly harasses construction worker

By
MND Staff
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Mazatlán locals protest outside the home of a supposed gringo
Protests took place outside the home of a native-born Mazatlán resident after nearby social media users assumed he was a foreigner engaging in harassment. (X)

A viral video showing an encounter between a homeowner and a construction worker in Mazatlán has escalated into public protests and a heated debate over urban tensions, misinformation and the power of social media.

The incident, initially described as a case of a gringo (American) harassing a Mexican laborer, has since been clarified: The homeowner, José Ignacio Lizárraga Pérez, is a lifelong Mazatlán local — a Mazatleco — not an American, Canadian or other foreign national.

@mayrifrancoJusticia!! @Mexico 🇲🇽 #libertad #mezicolindoyquerido♬ sonido original – Mayri Franco

What happened earlier this week reportedly was this: Lizárraga, a 78-year-old lawyer, asked construction workers, eating lunch on a public sidewalk outside his home, to move because they were blocking his entrance and garage.

He said his house is on Cruz Lizárraga Avenue, a well-known street one block from the beach named not for him but for clarinetist Don Cruz Lizárraga, the founder of the famous music group Banda El Recodo.

Being built right there, near the intersection with Hamm Street, is Stelarhe, a luxury residential complex of two 30-floor towers offering ocean views and high-end amenities. 

“All I asked of the workers who were blocking the entrance to my home on Monday was that they move to another side to clear the way,” Lizárraga told Noroeste in a phone interview, adding, “I’m not a gringo nor do I want to be. I’m from Mazatlán, and my family has been here for generations.”

A video of the encounter was shared by a bystander who believed Lizárraga was a foreigner and labeled him as such. Shortly after being posted Tuesday, it went viral.

Social media outrage followed, with users accusing him of racism and classism and the harassment of a Mexican citizen in his own territory.

On Wednesday, dozens of protesters gathered outside Lizárraga’s home, chanting, waving Mexican flags, throwing eggs and banging on his doors, while passing cars honked in support. The rhythm of the song “Por Mi México” blared in the background.

“Look, they’re destroying my garage doors,” Lizárraga recounted as the protest unfolded.

Despite the commotion, no police intervened until after damage was done, he said, adding that his wife called authorities out of concern for their safety.

Lizárraga explained that the ongoing construction of the tower has brought daily disruptions for years, including blocked entrances, noise and debris — a common experience for Mexicans in many urban locations, made especially irritating when the construction is being driven by tourism and creating more rental units for foreigners.

“At lunchtime, between 15 and 20 people come here to eat on average daily … I have no problem with that. … What I do have a problem with is when … they block the garage and they block the entrance door.”

The worker involved, named as Jorge, described feeling “attacked” but said he did not wish to escalate the situation. His colleagues, however, voiced anger at what they perceived as disrespect toward local workers.

The episode has reignited debates over gentrification, urban development and the impact of tourism-driven construction, which many locals feel has eroded community cohesion and strained public spaces.

Authorities, including Jaime Othoniel Barrón Valdez, secretary of public security in Mazatlán, eventually confirmed Lizárraga’s local status — a day or two after the incident — and cautioned against mob justice fueled by social media rumors.

“It’s hard to imagine that a lie can have such a reach,” Lizárraga said.

Although this incident proved to not involve a foreigner, gringo-versus-locals incidents are not uncommon in Mazatlán, a Sinaloa port city of 442,000.

About a year ago, a video sparked a fiery debate between people supporting the right of musicians to play loud banda music on or near the beach and backers of an anti-noise ordinance. Those seeking to prohibit such music included hotel owners, business leaders and politicians — allegedly in an attempt to cater to the desires of tourists and non-Mexican residents.

With reports from Infobae, Reforma and Noroeste

Cartel conflict shuts down highways in Michoacán

By
MND Staff
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A semi trailer on fire blocks a Michoacán highway
While the federal government attributed the mayhem to an inter-cartel dispute, state officials said it was a reaction to an increased presence of federal forces in Michoacán. (X)

Cartel conflict wreaked havoc across the western state of Michoacán on Wednesday, as organized crime gangs blockaded 10 highways by setting vehicles on fire. 

The chaos extended into the states of Jalisco to the northwest and Guanajuato to the northeast.

Order was restored in Guanajuato after six hours of mayhem, state and federal officials declared on Wednesday night. Michoacán authorities worked late into the night removing the vehicles and other obstacles before reopening the highways, while urging motorists to exercise caution.

In a brief statement issued Thursday morning, Federal Security Minister Omar García Harfuch said at least two police officers died in the violence, adding that federal officials defused several explosive artifacts and secured a number of land mines.

”Yesterday, violent incidents occurred in 26 municipalities in Michoacán, two in Guanajuato, and one in Jalisco,” the minister tweeted on X. “These incidents resulted in the burning of several vehicles, three attacks on stores, several roadblocks, and assaults on authorities, resulting in the death of two police officers.”

García Harfuch did not identify the police officers nor did he say to which state force they belonged.

A bus burns, blocking a road in Michoacán
Most of the violence took place in Michoacán, with 26 municipalities victimized, but some of it spilled over into the neighboring states of Jalisco and Guanajuato. (@1aplanamx/X)

According to García Harfuch, the violence was strictly a cartel conflict between rival gangs. “It is important to note that these attacks are the result of conflicts between two criminal groups fighting over territories,” he wrote. 

But the Michoacán Security Ministry attributed the violence to the Jalisco New Generation Cartel (CJNG) reacting to coordinated operations carried out by federal forces that sought to shut down criminal activity in a broad swath of Michoacán.

In recent weeks, the Navy Ministry has conducted anti-crime operations in the Bajío region, Tierra Caliente, the Chapala marsh area, the central plateau and eastern Michoacán. The CJNG reaction began around 2 p.m. Wednesday, just across the state border in Jalisco.

Approximately 50 men erected a barricade by setting fire to six cargo trucks in the municipality of La Barca, Jalisco, shutting down federal Highway 15 in both directions. Highway 15 connects the state capitals of Morelia, Michoacán, and Guadalajara, Jalisco.

Shortly thereafter, armed men appeared near San Andrés Coru, about 100 kilometers west of Morelia and 20 kilometers northeast of Uruapan, Michoacán’s second-largest city. The men shut down federal Highway 14 (the Patzcuaro-Uruapan highway) by setting fire to a tractor-trailer.

Farther south in the Tierra Caliente, the suspected cartel members set fire to two vehicles and two Oxxo convenience stores near Apatzingán.

At the same time, Morelia came under attack as criminals blocked federal Highway 43 — which connects the Michoacán capital with Salamanca, Guanajuato —  by setting two engine blocks on fire.

Similar tactics were used to shut down the Uruapan-Chilchota, Vista Hermosa-Yurécuaro, La Piedad-Zamora and Quiroga-Zacapu highways. Automobiles were also set ablaze in the municipalities of Churintzio (northwestern Michoacán), Huaniqueo (90 km northwest of Morelia) and Maravatío (northeastern Michoacán). An additional 25 vehicles were damaged in these three incidents.

The federal government responded to the reports by deploying the military and Security Ministry personnel to suppress the blockades and patrol major cities affected by the cartel attacks.

On Thursday, the Michoacán Attorney General’s Office reported that two men possibly linked to the attacks had been arrested.

In separate incidents in the northern municipality of Álvaro Obregón bordering Guanajuato, officials apprehended two men — one in a pick-up truck, another on a motorcycle — each with a gallon of gasoline and a walkie-talkie.

With reports from Infobae, La Jornada and Periódico Correo

Four stations of Mexico City Metro’s Line 1 are now open after a year of renovations

By
MND Staff
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President Sheinbaum, CDMX Mayor Clara Brugada and other officials walk along a Mexico City Metro platform next to an orange train
President Sheinbaum and CDMX Mayor Clara Brugada inspect the new metro cars at Chapultepec station during the opening ceremony on Wednesday. (Presidencia)

Four stations on Line 1 of the Mexico City Metro system that serve popular neighborhoods of the capital such as Roma and Condesa reopened on Wednesday, more than a year after they were closed for renovation.

Metro users can now access the following stations:

  • Cuauhtémoc (providing access to the Roma Norte and Juárez neighborhoods)
  • Insurgentes (Roma Norte and Juárez, including the Zona Rosa)
  • Sevilla (Roma Norte and Juárez)
  • Chapultepec (Condesa and Chapultepec Park)

The four stations closed in November 2023 as a company commissioned by the city government carried out a major upgrade of Line 1 of the Mexico City Metro, the system’s oldest and busiest line.

The project as a whole — including upgrades to tracks, stations and communications systems — began in July 2022, but still hasn’t been completed.

Three stations on the 20-station line — Juanacatlán, Tacubaya and Observatorio — remain closed. They are scheduled to reopen later this year. The Mexico City-Toluca train line will terminate at Observatorio once it is complete.

As things stand, Line 1 — known as la linea rosa or the pink line — is open between Pantitlán, a station in eastern Mexico City, and Chapultepec. New trains designed and built by the Chinese company CRRC Zhuzhou Locomotive are now running on the line.

A Mexican subsidiary of that company won a 37-billion-peso (US $1.9 billion) contract to carry out the Line 1 upgrade and other ongoing work over a period of 19 years.

‘It’s as if a new metro line was built’

President Claudia Sheinbaum and Mexico City Mayor Clara Brugada attended a ceremony at Chapultepec Station on Wednesday to celebrate the reopening of the four modernized stations.

“It’s as if a new metro line was built,” said Sheinbaum, who noted that the Line 1 tunnel, through which trains run, was checked to ensure that it is structurally sound. The line opened in 1969, just two years after construction began.

Sheinbaum — mayor of Mexico City when the upgrade of Line 1 began — noted that the entire project was initially slated for completion in just one year.

However, she said the challenge was bigger than originally anticipated, and asserted that the completion of the project in “less than three years is a world record.”

Metro users spoke glowingly about the results in a video posted to social media by the Metro system.

Metro riders pass through turnstiles under a station sign reading "Chapultepec"
The new Balderas-Chapultepec section of Line 1 is now open to the public. (Galo Cañas/Cuartoscuro)

“The truth is it turned out very well. [The station] is now a bit brighter,” one passenger said.

In a post to social media, Brugada described the Mexico City Metro as “the heart of our city.”

“We will continue working for accessible and sustainable transport for the well-being of everyone,” the mayor wrote.

With regard to the Cuauhtémoc-Chapultepec section of Line 1, Brugada said that “all the systems were updated 100%: new tracks, new automatic steering, a new electrical system and new trains.”

“[Line 1 is] a completely new line that will benefit close to 500,000 people per day, with 17 stations already in operation,” she said.

“… Thanks to the leadership of our dear president @Claudiashein, today we have a faster, safer and more modern line,” Brugada said. 

With reports from El Financiero and La Jornada 

Grupo Modelo set to invest US $3.6 billion in Mexico over the next three years

By
MND Staff
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A Grupo Modelo industrial brewery building with a sign reading "Cerveceria Modelo"
Modelo's near-future spending plans in Mexico range from upgrading its breweries to presenting music and sports events. (Mario Jasso/Cuartoscuro)

Grupo Modelo, Mexico’s top beer maker, said it plans to invest US $3.6 billion over the next three years to renovate its Mexican plants, fund recycling initiatives and finance local producers.

Raúl Escalante, Modelo’s vice president of corporate affairs, made the announcement during President Claudia Sheinbaum’s Thursday morning press conference, further boosting Sheinbaum’s vision for economic growth contained in her Plan México.

man talking at podium
In announcing the investment at President Sheinbaum’s Thursday morning press conference, Raúl Escalante, Modelo’s vice president of corporate affairs, said his company plans to help stores that sell its beer brands modernize their facilities.
(Presidencia/Cuartoscuro)

Economy Minister Marcelo Ebrard said Grupo Modelo’s investment lifts overall funding under the Plan México umbrella to US $300 billion.

Sheinbaum expressed gratitude to Grupo Modelo while highlighting the investment’s ecological focus, which includes reducing water use in production and promoting the use of returnable packaging and glass recycling programs.

“In the past decade, we have reduced by 30% the amount of water required to produce our beer,” Escalante said. “This has allowed us to fully adhere to the national right to water accord, ceding 20 million cubic meters of water to the [National Water Commission].” 

The brewer will provide funding and credits to the 300,000 shops that sell Modelo beer brands. “We intend to help our clients modernize by sharing technology and encouraging the purchase of more efficient refrigerators,” Escalante said.

Modelo also aims to sponsor music festivals and sporting events, thereby promoting what Escalante called “positive experiences for Mexicans.”

“We are with Mexico for better or for worse,” Escalante said. He added that although 70% of goods used in Modelo’s beermaking process are produced in Mexico, “there is considerable opportunity to improve that figure.”

Sheinbaum praised Modelo’s commitment to Mexico, recalling that, while she was mayor of Mexico City (2018-2023), the company provided funding early in the COVID pandemic to finish building a hospital that had been left incomplete by the previous administration.

“That hospital helped treat victims of the pandemic and now specializes in breast cancer treatment,” she said.

Grupo Modelo is the national leader in production, distribution and sales of beer in Mexico, including such top brands as Corona, Victoria and Pacífico. It employs nearly 30,000 at its 10 breweries, including two artisanal breweries and one experimental brewery.

Modelo also owns bottle-making factories and malt-processing plants, and produces plastic bottle caps. The company also produces and distributes bottled water via a strategic alliance with Nestlé Waters.

“Mexico is our principal market,” Escalante said, adding that Modelo has confidence in Mexico and its people, and will continue building in Mexico over the next six years.

With reports from Expansión, El Financiero, Infobae and El Economista

World Bank cuts growth forecast for Mexico, predicting economic stagnation

By
MND Staff
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The World Bank globe logo on a grey building
The World Bank logo outside its headquarters in Washington, D.C. (Shutterstock)

The World Bank has slashed its 2025 economic growth forecast for Mexico amid what it called “the highest levels of trade uncertainty in a decade.”

The Washington-based international financial institution is now predicting that the Mexican economy will stagnate in 2025 with 0% GDP growth.

The forecast is 1.5 percentage points lower than that the World Bank made in January in its Global Economic Prospects report.

The new forecast is included in an advance copy of a chapter of the upcoming World Bank report “Organized Crime and Violence in Latin America and the Caribbean,” which will be released next Monday.

Among 29 Latin American and Caribbean (LAC) countries, only Haiti is forecast to record a worse economic result than Mexico this year. The World Bank is predicting that the economy of the troubled Caribbean country will contract 2.2% in 2025.

On the other end of the scale, it is predicting that the economy of Guyana will grow 10% this year and that Argentina will record a 5.5% economic expansion.

e 2018 a 2023, una merma de alrededor de 7 por ciento, la más amplia en la región.
Though Mexico’s economic growth forecast was cut, there was a silver lining: Social programs and job growth reduced poverty by 7% in Mexico since 2018, the best improvement in Latin America. (Gobierno de la Ciudad de México/Cuartoscuro)

The World Bank’s downgrade of its growth forecast for Mexico comes just after the International Monetary Fund (IMF) slashed its outlook for Latin America’s second largest economy. The IMF is now predicting Mexico’s GDP will contract 0.3% this year, a downward revision of 1.7 percentage points compared to its January forecast.

The Mexican economy grew 1.5% annually in 2024.

‘A more challenging external scenario’

The World Bank also lowered its growth outlook for the Mexican economy in 2026. It is now forecasting 1.1% growth next year, down from a 1.6% forecast in January.

In “The State of the LAC Region” chapter of its upcoming report, the World Bank said that the outlook for the region “has become more uncertain as modest advances on the internal front are being compounded by a more challenging external scenario.”

“… The external environment … has changed substantially in the six months since the October 2024 Latin America and Caribbean Economic Review (LACER), with both short-term and long-term consequences,” the financial institution said.

“… The apparent shift toward higher tariffs by the United States casts uncertainty on the nearshoring project, the practice of bringing offshore operations to nearby or friendly countries, and global market access more generally,” the World Bank said.

A dock worker supervises as shipping containers are moved in Lázaro Cárdenas
With rising tariffs, the future of nearshoring in Mexico is uncertain, the World Bank reported. (Juan José Estrada Serafín/Cuartoscuro)

“… Even before the increased uncertainty introduced by the rising US tariffs, there was evidence that the region was potentially missing the boat on nearshoring,” the bank said.

In the three months since Donald Trump began his second term as president, the United States government has imposed tariffs on steel, aluminum and cars made in Mexico as well as Mexican goods not covered by the USMCA free trade pact.

The Mexican government is currently attempting to negotiate exemptions from the steel, aluminum and auto tariffs, which the United States imposed on imports from around the world.

The World Bank said “it is impossible to know where the new tariff regime will settle.”

For now, “higher tariffs, and the highest levels of trade uncertainty in a decade, impede further integration of the region into U.S. supply chains, as well as imperiling jobs in export-related industries,” it said.

The World Bank highlighted that Mexico recently signed a new trade agreement with the European Union, and said that “represented a step toward diversification of markets.”

A construction worker lays down steel rebar, like that which could be subject to tariffs in Mexico
The Mexican government is currently working to negotiate exemptions from U.S. steel, aluminum and auto tariffs. (Ricardo Gómez Ángel/Unsplash)

However, it added that “the emerging challenges require addressing a now decades-old agenda in infrastructure, education, regulation, competition, and tax policy to increase both productivity and the nimbleness of the region’s economies in the face of new uncertainty.”

Sheinbaum takes issue with World Bank forecast 

At her Thursday morning press conference, President Claudia Sheinbaum expressed her disagreement with the economic forecasts of international organizations such as the World Ban, the IMF and the OECD, which is also predicting that the Mexican economy will contract this year.

International financial organizations “have economic models that don’t take into account what we are doing,” she said.

Sheinbaum said that if their models establish that “there is going to be inflation and economic recession in the United States,” they say “there will [also] be recession in Mexico” due to the “economic integration” between the two countries.

She asserted that international financial organizations also “don’t take into account” that “not everything is determined yet” with regard to the United States’ trade relationships with the rest of the world, and “particularly” its relationship with Mexico, which sends more than 80% of its exports to its northern neighbor.

Returning to her first claim, Sheinbaum said that international organizations fail to consider Plan México, the federal government’s ambitious economic initiative to grow the economy by boosting domestic industry and building new infrastructure projects, among other measures.

President Sheinbaum speaks into a microphone at her morning press conference
Sheinbaum criticized the World Bank forecast for not taking into account current economic development initiatives. (Presidencia)

The World Bank said in its report that public investment in Mexico “supported the expansion of aggregate investment and output growth during 2023,” — when the Mexican economy grew 3.2% — “but as it lost momentum during 2024, this stimulus weakened.”

Even though major projects such as the Maya Train and the new Pemex refinery on the Tabasco coast are now largely completed, Sheinbaum believes that her government’s investment in other infrastructure projects — including highway, rail, water and housing ones — will help spur growth in Mexico.

“If there wasn’t public investment, there would probably be the reduction in economic growth” that the IMF is forecasting, she said on Tuesday.

On Thursday, Sheinbaum highlighted the economic benefits of private investment as well.

The World Bank and IMF “probably don’t take into account” the US $3.6 billion that brewing company Grupo Modelo is going to invest in Mexico or other private investment currently in the pipeline, she said.

Sheinbaum said that the Finance Ministry — which is forecasting that the Mexican economy will grow by 1.5-2.3% this year — “does take into account all these variables” and therefore comes up with “a completely different result.”

For Belize, where tourism generates 40% of GDP, a Maya Train connection could significantly boost the nation's economy.
Major pubic infrastructure projects like the Maya Train have boosted the Mexican economy in recent years. (Presidencia/Cuartoscuro)

“… The economy of Mexico is strong and the entire cabinet is working so that Plan Mexico becomes a reality,” she added.

Need-to-know economic data for Mexico

By Mexico News Daily chief staff writer Peter Davies ([email protected])

⁠Why do Mexicans say ‘sorry’ all the time?

By
Andrea Fischer
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Pilgrims carrying an image of the virgen de guadalupe through the street
“Pedir perdón” is an innately cultural experience in Mexico, deeply intertwined with our Colonial/Catholic heritage. (Graciela López/Cuartoscuro)

When I first started dating my current partner, I had several uncomfortable moments with his mother. Born and raised in the Soviet Union, she simply did not understand why I kept saying “I’m sorry” or “Excuse me” whenever I was in her way or accidentally tripped over her. As a clumsy person myself, it just came naturally. However, when she plainly asked why, I was unable to answer — immediately, at least. She was visibly uncomfortable with the matter, which only made it worse for me.

At first, I simply attributed this to the fact that I was raised as a “polite” person in a typical Mexican family. For her, who spent most of her life in a Soviet environment where people — and women, in particular — do not say sorry unless something is definitely wrong, the use of the expression was just unnecessary.  In other words, it was a clash of cultures. However, this was not the first time this discomfort popped up.

A mug next to a silver iMac displayed a zoom call on the screen.
Foreign ex-teammates, I know I say ‘sorry’ too much — sorry! (Chris Montgomery/Unsplash)

I’ve had the great fortune of working with people from the U.S. for a long time, particularly in the editorial roles I’ve undertaken for the greater part of my career in journalism. When there have been misunderstandings or miscommunication issues, my personal instinct has been to say, “I’m sorry” — as has been for my fellow Mexican teammates.

Foreign folk sometimes find this excessive. Some of them have simply said, “Oh, don’t say sorry!” I guess they’ve understood the cultural gap. The question, however, remains: Why do we Mexicans say we’re sorry all the time? The answer is far more complex than I envisioned in the first place, and has its roots in the Colonial/Catholic past we carry from the cradle.

What are we, Mexicans, sorry for?

Mexicans take pride in the fact that we’re polite, friendly and warm. In our minds, we’re the perfect hosts, super funny and simply the best company anyone could keep. Even though people from other parts of the world do feel we’re hospitable, some of our ‘politeness’ is not well understood by folk from abroad.

A pair of hands clutching a photo of a Catholic idol
Though not necessarily baptized, every person born in Mexico is culturally Catholic. (Crisanta Espinosa Aguilar/Cuartoscuro)

Psychiatrist Carl Jung once said that “the content of the collective unconscious is made up essentially of archetypes.” Archetypes are patterns of thought and behavior that usually come from an individual’s context or environment, namely, mental representations of social phenomena that we’re not exactly aware of, but certainly feel and act upon unconsciously. In Mexico, some of the greatest archetypes come from the fact that we are innately Catholic. Let me explain myself.

Even though my partner was raised by a Soviet mother, who was taught that “religion is the opium of the people,” I’ve often heard him say, “¡Gracias a Dios!” (Thank God!) with great relief. He is not a Catholic practitioner, nor was he baptized into any religion. I’m pretty sure he does not believe in a patriarchal, almighty deity. However, he — like any other person born and raised in Mexico — was taught the Catholic way by the culture we share. Like me, who was raised in a very Catholic household, he feels shame and guilt — and yes: he, too, says “I’m sorry” too much.

‘Pedir perdón’ is a religious matter in Mexico

And how could he not? In a country that’s 77% Catholic, per INEGI’s latest figures, we Mexicans co-exist with Catholic values ​​all the time, as if they were ingrained in our minds from the womb. Our references are inherently Catholic. In every corner in Mexico City, as in virtually every Mexican city, people place altars dedicated to their saint of choice. Cholula, in the central state of Puebla, has more churches than schools — 365 Catholic temples, to be precise, according to Universidad de las Américas, Puebla (UDLAP). Both men and women are named ‘Guadalupe,’ for Christ’s sake.

A Catholic procession with images on the back of trucks
A great number of Catholic practitioners even identify themselves as ‘Guadalupanos’: those who believe in the Virgin as the supreme force in the Universe. She is the mother of God, after all. (Rogelio Morales Ponce/Cuartoscuro)

As you might have guessed by now, people in Mexico fear God. This does not mean — not exactly, at least — that we’re afraid of an almighty entity. On the contrary, as per Bethlehem College and Seminary scholar John Piper, this implies a sense of awe and respect for the Christian God. And submission. Especially submission. Given the Christian principle that we are born sinners, and God forgives our imperfectness, we are taught that we must ask for His forgiveness — every time.

Growing up, I remember my mother urging me to confess my sins during Sunday service. After enlisting them all at the confessionary — God forbid! The child did not do her homework — the priest insisted I sincerely ask God to forgive me. I’m pretty sure that seven out of ten children in Mexico have had similar experiences growing up in Catholic households.

This religious practice almost naturally translates to the way we relate with each other. As much as asking for God’s grace and forgiveness, Mexicans — and people from any formerly colonized country in Latin America — feel the need to make amends for our social faults through attaining forgiveness of the Other.  

In this context, the ‘Other’ is understood in psychoanalytical terms: an entity that exists beyond the Self and represents the moral duty and values of a society. Given the vertical arrangement we observe towards God — Catholic practitioners or not — it’s fair to say we bestow the great Mexican morale to the Other.

A man crawls on the street as he carries an image of the virgin on his back
Mexico is a country of ancient rituals. Asking for forgiveness could perhaps be just another one of them, deeply influenced by the colonialist past that still weighs on us, very literally. (Elizabeth Ruíz/Cuartoscuro)

We Mexicans are submissive to others, and often sacrifice our own needs and desires to restore the social order. The way to rectify our mistakes, no matter how serious, is by asking for forgiveness. It is even expected of you, if you’re polite and willing to maintain certain personal and professional relationships.

Seen another way, the Mexican way of re-knitting the social fabric could very well be by asking for forgiveness. It is well known that we are a culture of ancient rituals. Asking for forgiveness would perhaps be just another one of them, deeply influenced by the colonialist past that still weighs on us as a culture and society.

 ¡Qué pena! — We do say ‘sorry’ a little bit too much

So now you know. The next time you hear someone say, ‘Disculpe’, ‘Qué pena’, ‘Una disculpa’ or any other forgiveness-seeking interjection, you are also having an anthropological experience. If these faults are not resolved, guilt comes into play. But the question of guilt is just another entire article by itself, sorry!

Andrea Fischer contributes to the features desk at Mexico News Daily. She has edited and written for National Geographic en Español and Muy Interesante México, and continues to be an advocate for anything that screams science. Or yoga. Or both.

These new hotels and restaurants rank among the best in the world, according to Condé Nast Traveler

By
MND Staff
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A restaurant table set for a candlelit dinner but the ocean
A new Four Seasons Resort on the coast of Baja California Sur won praise for offering an experience that is both grounded and luxurious. (Four Seasons Cabo San Lucas)

Every year as spring sets in, the magazine Condé Nast Traveler releases its Hot List, a collection of the best new (or renovated) hotels, restaurants and cruise lines in the world. This year, two hotels and one restaurant in Mexico made it to the list.

A Mexican chef in the United States also won recognition for her restaurant Acamaya in New Orleans.

Mexico’s best new restaurant

Voraz — Roma Sur, Mexico City

Serving a novel menu that includes dishes like achiote-seasoned pig ears, oyster gorditas and savory churros, Voraz “is the most talked-about restaurant in the red-hot Roma Sur neighbourhood,” the magazine said. Housed in a former auto shop, Voraz’s kitchen is led by Mexican chef Emiliano Padilla, who has international experience in Michelin-starred restaurants such as The Breslin (NY), Fäviken (Sweden), Ryugin (Tokyo) and Noma (Copenhagen). Regarded as Mexico’s first gastro-cantina, Voraz’s inventive menu “expands diners’ understanding of Mexican cuisine” Condé Nast Traveler wrote.

Mexico’s best new hotels

Banyan Tree Veya — Valle de Guadalupe

Two photos show a dry Baja landscape with a hotel on a hill, and a room with a leather couch and fireplace
The new Banyan Tree hotel opened in Valle de Guadalupe, Baja California, last summer. (Banyan Tree Veya)

Valle de Guadalupe in Baja California, Mexico’s most famous wine region, is home to one of the world’s best new hotels: the wellness retreat Banyan Tree Veya Valle de Guadalupe. Featuring 30 earth-toned pool villas, five restaurants and various regionally inspired spa treatments, the property is the first international luxury hotel in the area, placing the “Napa of Mexico” in the global spotlight. “Purists may wonder whether a wellness retreat is the right place for a winery,” Condé Nast Traveler said. “One glass of post-hydrotherapy red will erase any doubts.”

Four Seasons Resort and Residences Cabo San Lucas at Cabo Del Sol

Set on the coast between the towns of Cabo San Lucas and San José del Cabo in Baja California Sur, the new Four Seasons Resort and Residences Cabo San Lucas won accolades for its locally rooted take on luxury hospitality. “What sets it apart is that it stays true to its location and history while feeling thoroughly grounded in the present,” Condé Nast Traveler said. Reminiscent of a traditional Mexican village square, the hotel features a cobblestone drive and whitewashed buildings. It is also home to an artist-in-resident studio, a gourmet deli serving coffee and regional wines and spirits, and a spa.

Mexico News Daily

For the love of coconuts: new cafe in Xalapa goes all in on the tropical treat

By
Alan Chazaro
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Young woman standing at a wooden restaurant serving booth handing over a coconut shell glass of coconut water to a young female customer on the other side of the booth, which is located outside in a verdant background of trees.
The coconut certainly isn't new to Xalapa, but La Tierra del Coco cafe in the city's downtown aims to make you see how many products can be made from Veracruz's plentiful fruit. (photos by La Tierra del Coco)

A few weeks ago, a new food venture opened up in downtown Xalapa, in an area of the city near the university with a high concentration of delectable cafes frequented by youthful couples, students and artists.  Whenever anything opens in this part of town, I’m excited to see what it’ll add to an already impressive culinary scene. 

What I wasn’t expecting was for the cafe to predominantly — practically only — sell coconut-based beverages, snacks, treats, candles (yes candles, not candies), cooking ingredients and even housewares. 

Outer facade of La Tierra del Coco cafe. It has three green arches, is located on a street corner. It has warm yellow lighting inside and you can see a couple of women sitting together inside at a table overlooking the street.
Cozy, quirky, coconut-loving La Tierra del Coco cafe fits in perfectly among downtown Xalapa’s collection of cafes near the local university. But its specialty in coconuts distinguishes it from the competition.

La Tierra del Coco is a boutique cafe billed as a “new tropical concept” in Veracruz’s lush capital. The owner, Mario Leal, is a local who spent the past five years studying in Mexico City, where he both embraced the big city and missed the quaint tropics of his home state. 

To understand Veracruz’s place within the sprawling context of Mexico, it’s important to know that this region has evidence of the earliest human organized existence on the continent, with a civilization in the Olmec dating back to 1200 BCE. The Olmec predate the Aztecs, Mayans and Toltecs by thousands of years. Much later, in the 1500s, Veracruz is where the Spaniards initially landed when they reached modern-day Mexico, bringing their seafaring ways to Veracruz. 

During the Spanish colonial period, coconuts eventually made their way to eastern Mexico by entering through both coasts of Mexico around the mid-1500s. Unlike the western edge of Mexico (whose Pacific shores brought imports from other parts of the globe), the coconuts in Veracruz hailed from West Africa via the Caribbean islands. Since then, they’ve flourished as one of the region’s prominent crops.

And yet, the ever-delicious coconut hasn’t always been given its respect and proper due. It is typically viewed as a roadside treat on the go, or perhaps it gets incorporated into a side dish to accompany a larger plate. It is rarely, if ever, the actual dish itself — let alone an entire cafe’s menu and purpose.

La Tierra de el Coco is changing that, one coconut at a time. Imagine a panadería — with its different varieties of breads in an assortment of sizes, flavors, styles, prices — but with coconuts. 

There are the basic offerings: freshly poured coconut water in a ready-made to-go cup for convenience. There’s also prechopped coconut prepared daily (and iron branded by the workers across the counter with a La Tierra de el Coco logo).

Ice cream cup with a scoop of coconut ice cream and a wooden ice cream spoon.
Vegans, take note: La Tierra del Coco’s coconut ice cream is refreshing on a humid Xalapa day — and dairy free.

Though I love coconut water as much as anyone else, it’s the other stuff that makes me giddy: 100% vegan coconut ice cream. Gratis toppings include shredded and candied coconut, dehydrated coconut strips and peanut crumbles. The scoops are gratuitously large and the prices generously low. 

From there, the tiny shop provides a variety of other coconut-based goods: chile de cacahuates with coconut oil and coconut bits mixed in (the coconut flavor is subtle but adds a refreshing touch to the thick spice); coconut-wax candles ; coconut soap; coconut toothpaste; coconut bowls and spoons; coconut flour; coconut sugar; even coconut deodorant — that must smell like coconut, right?). Everything is made locally for the shop in partnership with nearby artisans, and branded as Tierra del Coco.

On a humid, steamy day in Xalapa — of which, due to climate change and dangerously rampant deforestation, there is more heat here than ever — nothing really beats strolling down the block to get a scoop of coconut ice cream and sip on cold coconut water on a breezy covered patio surrounded by greenery.

Though coconut treats remain around the city and state in other forms (mostly at the parks, where coqueros gather to chop coconuts on the spot, or along the streets, where coconut candies can occasionally be had), I haven’t seen anything quite like La Tierre de el Coco elsewhere in Mexico. Yet another reason Veracruz’s culinary offerings are worthy of more attention. 

If you’re in Xalapa and you like coconut, you owe it to yourself to check this place out.

Alan Chazaro is the author of “This Is Not a Frank Ocean Cover Album,” “Piñata Theory” and “Notes From the Eastern Span of the Bay Bridge” (Ghost City Press, 2021). He is a graduate of June Jordan’s Poetry for the People program at UC Berkeley and a former Lawrence Ferlinghetti Fellow at the University of San Francisco. His writing can be found in GQ, NPR, The Guardian, L.A. Times and more. Originally from the San Francisco Bay Area, he is currently based in Veracruz.

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