Lopez Obrador Stands Firm on Judiciary Reforms Amid Market Fears

Mexican President Andres Manuel Lopez Obrador declared on Wednesday that efforts to reform the judiciary will not be reversed due to market nervousness. Despite financial instability following Morena's strong performance in recent elections, Obrador insists on pursuing amendments, including replacing the Supreme Court with elected judges.

Mexican President Andres Manuel Lopez Obrador on Wednesday said that people are "mistaken" if they think that an effort to reform the country's judiciary will be reversed because of market nervousness.

"They are wrong, respectfully, if they are thinking that we are going to go back on reforming the judiciary, which is rotten, which is dominated by corruption, just because there is financial nervousness," Lopez Obrador said during his regular press conference. Mexican markets have been roiled since Lopez Obrador's ruling Morena party performed better than expected in the June 2 general elections, breathing life into stalled efforts to pass a

slate of constitutional reforms , including one which would replace an appointed Supreme Court with popularly elected judges.

Mexico's peso currency, a regional high achiever in recent years, has tumbled over 10% since the election, weakening at least 1.3% in early trading on Wednesday. In the lower house of Congress, Morena secured the

super-majority required to pass constitutional reforms, while coming just shy of the super-majority in the Senate.