I fight for ideals and principles

In his first financial declaration since taking office on 1st of December 2018 Mexico’s president, Andrés Manuel López Obrador, has revealed that he has a little less than $23,000 in savings. "I’ve never been interested in money," López Obrador, 65, told reporters. "I fight for ideals, for principles." The title to a 1.2-hectare ranch inherited from his parents in southern Chiapas state, meanwhile, is already in the names his four sons, he said.

López Obrador, popularly know as Amlo, has promised to govern with frugality, and cut his own pay to about $65,000 a year - less than half of what his predecessor made. He pulled a US $2 bill out of his wallet – given to him as a good luck token by a Mexican living in the US – insisting it and a 200 peso note was all he had with him. Amlo's allies in Congress followed up his pay cut by approving a bill forbidding public servants from earning more than the president.

Public servants have pushed back against the proposed pay cuts, which include benefits being slashed – such as private healthcare plans. The Banco de México announced Thursday it would challenge the law in court. More than 15,000 bureaucrats have obtained injunctions, protecting themselves from the pay cuts.
This post was created with content excerpts from the Guardian. Find the complete report here...