The bottom line — sound money (inflation near Banxico's target, a firm peso), weak growth, and near-total dependence on the United States. The swing factor is the unresolved 2026 USMCA review.
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Mexico is a country of 131 million people with a ~$1.9 trillion economy, the world's ~14th-largest and the largest US trading partner.1 It manufactures and exports: about 80% of its exports go to the United States.2 It elects a president every six years, now Claudia Sheinbaum (Morena), through 2030.3