Mexican president-elect pulls plug on new airport; markets sink [Reuters (UK)]
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Source: Reuters
Mexican president-elect pulls plug on new airport; markets sink | Reuters 5 Min Read MEXICO CITY (Reuters) - Mexico’s incoming president said on Monday his government would cancel construction of a partially built $13 billion (£10.1 billion) new airport for Mexico City, a decision which left investors fretting over how he would manage the economy and led to sharp falls in the currency and stockmarket. President-elect Andres Manuel Lopez Obrador said his administration, which takes office on Dec. 1, would heed the results of the informal referendum that called for abandoning the current project. Instead, a military air base north of the capital will be converted for commercial use to ease overcrowding at the current hub. The move puts Lopez Obrador’s government in a confrontation with the country’s business elite, whom he criticized during his election campaign but had sought to soothe following his landslide election victory. Markets had welcomed Lopez Obrador’s pledge to stick to ort
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