Mexico Airport Cancellation Strikes A Blow To Investor Confidence

On October 29, Mexican President-elect Andrés Manuel López Obrador (AMLO) announced the cancellation of the USD13.0bn New Mexico International Airport (NAIM) project, which was over 30.0% complete according to government estimates. The cancellation brings into doubt the outcome of Mexico's largest infrastructure project and raises concerns more broadly over policy formation under the incoming administration, souring investor confidence and resulting in a sharp sell-off of Mexican assets. 

Source: Fitch