Politics, Business & Culture in the Americas

Monday Memo: Peña Nieto Inauguration – COP18 Kicks Off – UNASUR Summit – and more

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Top stories this week are likely to include: Mexico’s presidential inauguration; Kyoto Protocol up for renegotiation; reaction to a new oil field find in Mexico; UNASUR meets in Peru; and Argentina-Ghana dispute to be reviewed by the UN.

Enrique Peña Nieto Assumes Power: On Saturday, President Felipe Calderón will conclude his six-year term and hand the presidential sash to President-elect Enrique Peña Nieto. He won the July 1 election with a nearly 7 percentage point advantage over the second-place finisher, Andrés Manuel López Obrador. In advance of his inauguration, Peña Nieto will travel to Washington DC and meet with U.S. President Barack Obama at the White House tomorrow.  “Expect immigration, security, border cooperation, and economic cooperation to be on the agenda but the main takeaway from their meeting will be to lay the foundation for building on the expanded working level cooperation achieved over the last few years,” notes AQ Senior Editor Jason Marczak.

Extra: Look for an AQ Web Exclusive analysis on the inauguration—and the next six years—later this week from Dr. Rafael Fernández de Castro, chair of the international studies department at the Instituto Tecnológico Autonómo de México (Autonomous Technological Institute of Mexico—ITAM).

COP18 Gets Underway: The 18th United Nations Climate Change Conference—known as COP18—begins today in Doha, Qatar and runs through December 7. COP18 comes after other UN-sponsored summits—from Rio+20 in Brazil (2012) to COP17 in South Africa (2011) to COP16 in Mexico (2010) —have not managed to renew global commitment toward climate change and with the Kyoto Protocol set to expire this year. The U.S. and Canada are the only countries in the Americas not to ratify the Protocol.

Mexico Finds More Oil: President Calderón announced the discovery of a large oil field in Tabasco state yesterday that may have reserves of up to 500 million barrels. With President-elect Peña Nieto discussing opening up Petróleos Mexicanos (Mexican Petroleums—PEMEX) to private investment, expect discussions this week about what this latest find can mean for its domestic development and geopolitical strategy.

UNASUR Summits: A group of UNASUR defense ministers, known as the South American Defense Council (SADC), is meeting today through Wednesday in Lima. Two working groups, one on the transparency of military stock and the other on the incorporation of women into the defense sectors, are expected to report. The SADC summit occurs ahead of the Fourth Regular Meeting of the Heads of State and Government of UNASUR this Friday, also in Lima.

UN to hear Argentina-Ghana Dispute: After the Argentine vessel ARA Libertad was detained in a Ghanaian port due to unpaid national debts early last month, there has been much back-and-forth between Argentina and bondholders. After Argentine Foreign Minister Héctor Timerman took his complaints to the UN, the UN Law of the Sea Tribunal—based in Hamburg, Germany—will hear the arguments on Thursday and Friday. Read more on the dispute between Argentina and its debt holders.

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