All articles tagged with #constitutional reforms
Mexican stocks and the peso fell sharply after the ruling Morena party's strong election performance raised fears of potential constitutional changes that could impact market stability. Claudia Sheinbaum's landslide presidential victory and the possibility of a super-majority in Congress have unsettled investors, leading to significant market losses.
Mexico's President Andrés Manuel López Obrador has proposed guaranteeing people pensions equal to their full salaries at the time they retire, a move that no other country has implemented. This is part of a series of 20 constitutional reforms that he hopes will attract voters in the upcoming presidential elections. However, analysts believe it may also be an attempt to set the agenda for the next administration and saddle them with high expectations. The proposed reforms also include guaranteed annual increases in payments to the elderly, increases in the minimum wage, and a ban on fracking, open-pit mining, GM corn, cruelty to animals, and vaping pens. The cost of the proposed pension plan is striking, as it would need to cover the entire workforce and significantly increase pension savings.
Florida Governor Ron DeSantis is proposing four amendments to the U.S. Constitution, including term limits for members of Congress, a balanced federal budget requirement, granting the president line-item veto power, and prohibiting Congress from imposing laws that don't apply to themselves. DeSantis argues that Washington needs to be held accountable and points to Florida's successful governance as a model. He criticizes federal debt and wasteful spending, and takes aim at President Biden's policies, while emphasizing the need for reforms that the founding fathers would have supported.
Protests erupted in Kenya, South Africa, Nigeria, and Tunisia against high cost of living and political hurdles. Opposition leaders led the demonstrations, calling for constitutional reforms and the resignation of their respective presidents. South Africa is facing an energy crisis, while Kenyans accuse their president of lying about bringing down the cost of living. Nigerians have low confidence in their current administration, and Tunisians accuse their president of orchestrating a coup and cracking down on dissenting politicians.