You know in all the discussions about the Mexican peso and the strength it has consistently shown in international currency exchange markets, and I am personally grateful that you have kept us apprised of this SAJ, it may be worth noting what those things are which attract international investors to an emerging industrial country like Mexico. I submit it is in large part due to the new transparency in the keeping of the finances of the national government which Fox has implemented, but clearly that is not the only reason. Sooner or later investors will be looking at growth prospects and with a current annual GDP of 5.5%, inflation at just over 3%, the prospects of expanding the Mexican financial sector that follow from recent announcements of international banking consortiums of their intent to open broad-based service provision throught the country (even Wal-Mart wants to get into the banking business in Mexico), and much more it appears obvious that the country is poised for a take-off.
So in light of all that, someone may be inclined to ask "then why is it that we are seeing such political controversy within Mexico right now?"
What is it the sociologists tell us about when you can expect to see the greatest potential for street protests? I believe the answer is that it usually surfaces in the early years of a period of "rising expectations." I think this is what we're witnessing right now.
You're exactly right about the transparancy, or former lack thereof, Saint.
Even as recently as 1997-1998, those interested in MXP had to look at -- of ALL things -- posted CETES rates in order to find a direction (or try to find) for the currency. This of course was a hangover from the Jan 1995 collapse -- you couldn't get squat in terms of public info about what was going on in Mexico, amigo, unless you had a source on the ground (in Banco Nationale, preferably!).
These days, there's considerable transparancy, and I must complement Presidente Fox for probably being the author of this good result. This is clearly a good thing for the Peso, and Mexico generally, sociological issues aside. I can't say that at all I'm fond of Texas' attempt to end-run both American ports and American customs law with this bloody 'Trans-Texas corridor' as proposed (to be run by a Spanish firm, if you please!), but other than that, anything that increases Mexican prosperity generally can hardly help but increase our own.