Mexico to eliminate 7 independent regulatory, oversight agencies. What does it mean for the future?

MEXICO CITY (AP) — Mexico’s Senate has voted to eliminate seven independent regulatory and oversight agencies. Critics say it is a massive move to cement the ruling party’s power and avoid outside scrutiny. President Claudia Sheinbaum calls it a money-saving measure. She says the agencies’ functions — which include freedom of information requests, anti-monopoly enforcement and energy-market regulation — can be done more cheaply by the government itself. But foreign investors and critics say that could open the way for the government to favor some businesses or hide information. What does it mean for Mexico’s future?