Amlo win to usher in new era in Mexico

A Mexican National Electoral Institute worker checks electoral material in Ciudad Juarez Mexico

Andres Manuel Lopez Obrador has won a landslide victory in Mexico.

With almost three-quarters of the ballots counted, Lopez Obrador had about 53 per cent of the vote - the most for any presidential candidate since 1982, a time when the Institutional Revolutionary Party was in its 71-year domination of Mexican politics and ruling party victories were a given. On Saturday, the Democratic Revolution party said four of its members were killed in Mexico State, west of Mexico City, while trying to prevent hand-outs of goods by the ruling party to potential voters.

The leftist politicians joined a handful of world leaders, artists and politicians around the world congratulating Lopez Obrador and his party over their victory in the presidency and both legislative chambers.

Mexico's main stock index and the peso were both down Monday, but analysts at Banco Base attributed the currency's drop to broader global movement in favour of the US dollar and speculation about USA interest rates. Newspaper El Financiero's exit poll gave him 49 percent of the vote to 27 percent for Anaya and 18 percent for Meade.

She said Lopez Obrador was also weighing decriminalising drug consumption and launching a truth-and-reconciliation process.

Shortly after exit polls showed Lopez Obrador set to win, Meade conceded defeat, saying: "I wish Andres Manuel the greatest of success".

Haq said the U.N. chief "expresses the readiness of the United Nations to work with the new administration continuing a longstanding tradition of excellent cooperation between Mexico and the United Nations".

Mexico is now renegotiating the North American Free Trade Agreement - known as NAFTA - with the United States and Canada.

Analysts with IHS Markit said that Lopez Obrador's congressional coalition will not it itself meet the two-thirds majority necessary to undo the country's landmark energy reform.

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Carlos Urzua, Lopez Obrador's pick to be his finance minister when he takes office on December 1, told Reuters on Monday that the new government will aim to reform the pension system and to reduce costs at Pemex during its six-year term.

Mexican business group Coparmex called a year ago for the creation of a strongly independent body to counter the tendency of Congress to approve expansive budgets.

But the prospect of Lopez Obrador rattled markets leading up to the election.

Andres Manuel Lopez Obrador, victor of Mexico's presidential election, right, waves during a rally at Zocalo square in Mexico City, Mexico, on Sunday, July 1, 2018.

Lopez Obrador has not proposed sending all troops back to their barracks.

"This man is the only one who can make Trump end his persecution and racism against Mexicans", said Luis Evans, 58, who drove from Los Angeles to a voting booth about a mile from the border.

Polls are beginning to close across much of Mexico or Sunday's presidential election. The outgoing Mexican president, Enrique Pena Nieto, has twice cancelled plans to visit Washington over Trump's ongoing insistence that Mexico pay for the wall.

Lopez Obrador said he wants to have information on what's being discussed and "to help as much as we can".

"It's worth cautioning that we still have little clarity on Amlo's economic policies", said Edward Glossop, an economist at Capital Economics.

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