Claudia Sheinbaum, Jewish President-Elect of Mexico, Morena Secures 372 Lower House Seats, 83 in Senate

Jun 10, 2024, 02:50 PM

Claudia Sheinbaum has been elected as Mexico's next president, marking a significant political shift. Sheinbaum, who is Jewish, has a progressive agenda and is a protégé of outgoing president Andrés Manuel López Obrador (AMLO). The ruling Morena party, which she represents, secured a two-thirds majority in the lower house with 372 seats but fell short of a supermajority in the Senate, with 83 out of 128 seats. This prevents them from making constitutional changes without broader support. Investors are concerned about potential constitutional reforms that could affect market conditions and democracy, causing the peso to sink. Sheinbaum has promised to prioritize judicial reforms, grants for schoolchildren and women, a ban on reelection, and changes to the public-worker pension system. AMLO has stated he will not pressure Sheinbaum to rush these reforms. The new congress will convene on September 1, and Sheinbaum will take office on October 1.