What is the issue?
- Mexico’s ruling Institutional Revolutionary Party (PRI), has been dominating the country's politics for almost a century.
- But the upcoming presidential elections is likely to be an uphill battle for the party as defeat seems to be looming large.
What is the political context in Mexico?
- Political Reality - In recent years, Mexico has seen brisk economic growth, low inflation and a sharp fall in unemployment.
- But despite these positive metrics, there has been a steady slide in the popularity of the corruption tainted government of President "Enrique Peña Nieto".
- Opinion polls indicate massive support for radical left-wing opposition "National Regeneration Movement" led by "Andrés Manuel López Obrador".
- International Reasons - The performance of Mexican Currency "Peso" (which has depreciated rapidly) is suspected to have aided the anti-incumbency wave.
- Notably, President Nieto's rule saw heightened treats of U.S. quitting the North American Free Trade Agreement due to President Trump's theatrics. \
- Domestic Reasons - The fallout from the political mishandling of the mysterious disappearance of scores of children in 2014 has been severe.
- Mr. Nieto’s government has also been at the centre of a political storm beginning with accusations that surfaced last year of illegal funding of his 2012 election.
- The subsequent sacking of chief prosecutor involved in the investigations and denial of various alleged scams eroded the government's credibility.
How is the current electoral battle proceeding?
- Defender - Presidents are allowed just one term in Mexico.
- Hence, the ruling PRI has designated José Antonio Meade (a minister in previous PRI governments) as its presidential candidate.
- Notably, Mr. Meade is a technocrat who is independent of any party affiliations, a factor that could've propelled him into the race to circumvent anti-incumbency.
- Challenger - The opposition presidential candidate "López Obrador" is a three-time contender for the presidency and former Mayor of Mexico City.
- His rhetoric is low on substance, but it seems to be appealing to the masses, which at present seems largely disenchanted with the government.
- In this context, the rising popularity of leftist forces has already started giving jitters to big corporate companies in the energy sector.
- Irrespective of the outcome, if Mexico succeeds to make a political transition peacefully through the ballot, it will count as a big national achievement.
Source: The Hindu
