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Mexico's first woman president takes office

2024-10-02 HKT 04:19
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  • Claudia Sheinbaum waves at her inauguration. Photo: Reuters
    Claudia Sheinbaum waves at her inauguration. Photo: Reuters
Claudia Sheinbaum was sworn in as Mexico's first woman president on Tuesday, vowing to bolster women's rights and ensure that Latin America's No 2 economy remains a secure destination for international investment.

Sheinbaum, a 62-year-old scientist and former mayor of Mexico City, took the oath of office and received the presidential sash in a boisterous ceremony in Mexico's Congress, which marks the start of her six-year term.

"It is time for transformation, it is time for women," she said with emotion.

"I am a mother, a grandmother, a scientist and a woman of faith, and from today, by the will of the Mexican people, the president," she said.

Sheinbaum also used her first speech as head of state to address investor concerns after the passing of a judicial reform pushed by her predecessor Andres Manuel Lopez Obrador.

She reiterated the central bank would be autonomous and told investors: "Rest assured that the investments of national and foreign shareholders will be safe in our country."

Alberto Ramos, head of Goldman Sachs Latin American economic research, said she will be judged on whether she can construct "a predictable and investment-friendly policy and regulatory framework."

"Disciplined management of the budget and of state-owned enterprises, progress on public security, and safe-guarding the integrity of key institutions will be key to preserving market sentiment and sovereign debt ratings," Ramos said, emphasizing the importance of the heavily indebted state energy firm Petroleos Mexicanos (Pemex).

On Pemex, Sheinbaum said the company will look to maintain daily oil production at 1.8 million barrels, about the same level they are at currently. (Reuters)

Mexico's first woman president takes office