MEXICO CITY. Claudia Sheinbaum has made history by becoming Mexico’s first female president following a landslide election victory. Promising to continue the legacy of her mentor and outgoing leader, Andres Manuel Lopez Obrador, Sheinbaum secured an overwhelming mandate from the electorate.
Sheinbaum, 61, a former mayor of Mexico City, achieved the highest vote percentage in Mexico’s democratic history, according to preliminary results from the electoral authority. The significant margin of her party’s victory has caused market concerns, with fears that the ruling coalition might secure a congressional super-majority. This would potentially allow for the passage of controversial constitutional reforms, especially in the energy sector, without opposition.
In response to the election results, Mexico’s peso fell by as much as 4% against the dollar on Monday, before recovering slightly to trade down 3%. The Mexican stock market also saw a 3% decline in morning trading.
According to the rapid sample count released late Sunday night by the INE electoral institute, Sheinbaum received between 58.3% and 60.7% of the votes.
In her victory speech on Sunday night, Sheinbaum, a physicist who was part of a United Nations panel of climate scientists that received a Nobel Peace Prize in 2007, expressed her gratitude to Lopez Obrador, describing him as “an exceptional, unique man who has transformed Mexico for the better.”
Lopez Obrador’s tenure was marked by significant achievements, including doubling the minimum wage, reducing poverty, and maintaining a strong peso and low unemployment rates. These successes contributed to Sheinbaum’s victory, although analysts predict she will face challenges in following his path.
“We made history!” Sheinbaum declared to a jubilant crowd early Monday morning in Zocalo Square, at the heart of Mexico City. Her election represents a major milestone for Mexico, a country known for its traditional macho culture and as home to the world’s second-largest Roman Catholic population.
“This is a historic moment, especially for women,” said Arlyn Rivera, a 24-year-old student celebrating in Zocalo plaza. “Mexican politics deserves more than what we have had in recent years.”
Sheinbaum’s main opposition rival, Xochitl Galvez, conceded defeat after securing just 26.6%-28.6% of the votes, according to preliminary results.
Sheinbaum will officially take office on October 1, becoming the first woman to win a general election in North America, which includes the United States, Mexico, and Canada.
Paraluman P. Funtanilla
Paraluman P. Funtanilla is Tutubi News Magazine's Marketing Specialist and is a Contributing Editor. She finished her degree in Communication Arts in De La Salle Lipa. She has worked as a Digital Marketer for start-up businesses and small business spaces for the past two years. She has earned certificates from Coursera on Brand Management: Aligning Business Brand and Behavior and Viral Marketing and How to Craft Contagious Content. She also worked with Asia Express Romania TV Show.
