LatinNews Daily - 08 January 2024

*Mexico’s President Andrés Manuel López Obrador has announced plans to introduce reform initiatives in relation to the minimum wage and pensions before leaving office on 30 September. Speaking at an event commemorating the Río Blanco textile workers’ strike of 1907 in Veracruz state, López Obrador said he would send an initiative to congress to stipulate that the minimum wage must increase above inflation each year. The minimum wage, which stood at M$88 (US$5.21) per day when López Obrador took office in December 2018, has been raised each year under the president, increasing by a further 20% at the start of this year to M$248.93 a day. López Obrador also announced plans to reform the pensions law, stating that the current legislation was “anti-worker” and saying the teachers’ union and other workers had approached him on the issue.