07-2021 Latin American Economy & Business
Economy & Business Report
El Salvador’s bitcoin adventure raises concerns
Mexico’s President Andrés Manuel López Obrador is intent on stoking past resentments in a bid to divert attention from the grim present reality and spark future electoral success. López Obrador’s approval rating remains high but it is well down on the stratospheric heights he achieved soon after coming to power in December 2018 in large part due to the perceived failings of his government’s response to the coronavirus (Covid-19) pandemic and its economic fallout. With no present developments offering much prospect of boosting his support, he is advancing with an idea to stage a referendum to gauge popular backing for prosecuting his five predecessors, alongside elections in June 2021. This is becoming a major political and judicial issue, with the supreme court (SCJN) debating the referendum’s legality as we go to press. Whatever the outcome of its deliberations, it looks like being a win-win scenario for López Obrador.
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