EPN goes ‘old school’ to deal with inflation surge, down business climate

The government staged an elaborate signing ceremony for a so-called “Agreement to Strengthen the Economy and Protect Family Finances” that includes a hodgepodge of measures or potential measures to contain price increases and stimulate demand.  President Peña Nieto presided, and the pacto was signed by Meade, Guajardo, and Labor Secretary Alfonso Navarrete,  for the government; the head of the peak union organization, the CTM;  and the head of the peak business organization, the CCE.  The EPN government has frequently resorted to these corporatist-style attempts to control events, that date to a Mexican political and economic system that has long-since disappeared.

Coparmex, the Mexican Business Owners Confederation, which is one of the main constituents of the CCE, refused to sign, saying it was given the final text only 2 hours before the event, and the pacto did not include concrete measures, clear goals, or ways to evaluate progress.  As a mark of the last-minute nature of the event, the governors were not invited, although they were in Mexico City for a separate meeting of the Governor’s Confederation (Conago).

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