Challenges Ahead for Claudia Sheinbaum's Administration

S&P Global Ratings noted that Mexican president-elect Claudia Sheinbaum's administration will face challenges, including a growing fiscal deficit and issues with state-owned oil firm Pemex. Additionally, the administration will need to address economic growth to meet pressing social needs.

S&P Global Ratings said on Monday that Mexican president-elect Claudia Sheinbaum's incoming administration will face challenges in public finances, including a recently growing fiscal deficit and long-standing weaknesses in state-owned oil firm Pemex.

"In addition, the new administration faces the need to boost the country's rate of economic growth on a sustained basis to help address pressing social needs," S&P said.