Friday, March 04, 2005

Mexico is more open to reform than I thought

It turns out that the PRI, the party that ruled Mexico for 70 years before the presidency of Vicente Fox, has eliminated a rule barring its members from supporting private investment in the energy industry. This could pave the way for a move that I thought wouldn't be possible for a long time, though it is still unlikely to happen under President Fox's lame duck mandate: that energy reform might pass through congress.

The energy sector is one of the vulnerable points of Mexico's economy, as there is clearly insufficient investment at the moment to satisfy Mexico's future energy needs. One clear way to boost this investment without cutting into the government's spending on health care and education would be to allow the private sector in.

Now this could happen.

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