trending Market Intelligence /marketintelligence/en/news-insights/trending/zJ6yur6bm3UB64Cr1I4CGg2 content esgSubNav
In This List

Mexico central bank questions AMLO's salary cap law before Supreme Court

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Mexico central bank questions AMLO's salary cap law before Supreme Court

Banco de México filed a case before the Mexican Supreme Court over a piece of legislation forwarded under new President Andrés Manuel López Obrador that proposes to cap public workers' salaries.

The monetary authority said they filed the case on the concern that it would impede on the monetary authority's autonomy under the constitution.

The proposal would limit employees' salaries to the same level as that of Lopez Obrador, who will earn 40% of what former President Enrique Peña Nieto earned, or about $5,500 monthly, Reuters wrote separately.

The central bank added that several of its own workers similarly filed their own cases over concern of the new law. The country's anti-trust agency also filed a case earlier this week, Reuters added.

AMLO, as the president is known, won on a platform of austerity measures for the government in elections in July 2018. He took office in December that year.