Last week, Enrique Peña Nieto (left) took power as the new president of Mexico.
With fighting corruption at the top of his agenda, the forty-six year old president is already working with Mexico’s Congress to impose structural reforms, including the creation of a centralized National Anti-Corruption Commission.
In November, Congress approved the Government Accountability Act, intended to standardized state government accounting systems with that of the federal government, to make large scale corruption easier to spot.
Mexico could reach economic growth of up to 4.5% annually in the next few years, bolstered by foreign direct investment and rising manufacturing costs in China. And if U.S. demand for manufactured goods increases, Mexico could become the biggest economy in Latin America by 2022, out pacing even Brazil.
All that depends in large part on whether the new president can reduce corruption within the federal, and state, and local levels.
Maria Dolores Hernandez J. is a researcher for the FCPA Blog members area.