Mexico Moves to Abolish Autonomous Regulatory Bodies

Mexico's lower house of Congress approved a reform to eliminate most autonomous regulatory bodies. This move aims to centralize power but may increase tensions with the U.S. and jeopardize Mexico's credit ratings.

In a significant legislative move, Mexico's lower house of Congress passed a reform to dismantle the majority of the country's autonomous bodies responsible for regulating economic sectors and ensuring government transparency. The contentious reform is part of a broader strategy to centralize governmental power, a move that supporters claim will streamline governance.

However, critics argue that this could impair the checks and balances integral to democratic practices, potentially aggravating already strained relations with the United States. Critics also express concern over the potential impacts on economic stability, with risks of credit rating agencies downgrading Mexico's credit rating looming large.

This decision marks a pivotal point in Mexico's governance structure, raising questions about the future of transparency and regulatory oversight in the nation. Observers are closely watching for responses from international partners and potential waves of opposition from within the country.

(With inputs from agencies.)