Andres Manuel Lopez Obrador has already used the money from the trusts, the savings from the Treasury and the funds for contingencies have run out; he cut all the programs he could to feed Pemex and the CFE. He tried to sell the presidential plane and then when it failed, he held a raffle to obtain resources through the plane; he ended up losing money.
Later, he created the Bank of Welfare (Banco del Bienestar), INSABI (INSTITUTO DE SALUD DEL BIENSTAR), and Gas Welfare (Gas del Bienstar), all of them resounding setbacks at the expense of the treasury. He has indebted the country (although he denies it), and now he comes out with the proposal of the ‘Financial Welfare’.
On Thursday, May 26, in his daily morning press conference, López Obrador announced that he plans to create the Welfare Fund using, in the first stage, the existing infrastructure and facilities of Telecomm-Telégrafos (although a new bureaucratic structure will have to be created).
That would be just the first step; then would come the establishment of an entire virtual/digital/online system, which would not require physical spaces to receive and transfer remittances. A kind of MoneyGram or Western Union (but owned by the government) that ends up prohibiting the operation of these companies, as is happening today in Cuba or Venezuela.
AMLO wants to seize all possible resources to control the situation in 2024 and be able to place his candidate in the presidential chair.
But our troubled country and our economy will not be able to withstand another six years of looting the treasury for populist welfare programs. Just as we are not going to be able to endure six more years of “hugs not bullets”.
Insecurity in Mexico has already reached levels never seen before (although the 4T government tries to deceive the people with false and misleading information).
Month after month from his Palace, Andrés Manuel mentions what enters the country through remittances, impressive numbers, which he presumes as if it were an achievement of his government instead of the work and sacrifice of millions of compatriots who live and work in the United States and other countries.
Source: SDP Noticias