World reacts to Claudia Sheinbaum’s historic election victory

Claudia Sheinbaum has made history in Mexico — storming to a big win in the presidential election. But financial markets are wary.

Claudia Sheinbaum has won the election in Mexico and will become the nation’s first female president.

To outsiders, it seems like an unlikely victory in majority-Catholic Mexico. The 61-year-old left-wing politician was born to Jewish parents and is a climate scientist, having earned a PhD in energy engineering.

However, she is hugely popular in Mexico. The former Mexico City mayor won Sunday’s election by a landslide, sparking celebrations in the streets.

She thanked “millions of Mexican women and men who decided to vote for us on this historic day.”

Dr Sheinbaum won 59 per cent of the votes in a nation where about 100 million people are registered.

She has pledged to continue the welfare and social programs of her predecessor and the potential for the ruling Morena party to obtain a supermajority in Congress makes that more likely.

Financial markets reacted warily to the news of her victory.

The Mexican stock market dived six per cent, while the “super” peso fell sharply against the US dollar, giving back some of the gains hypercharged by remittances in recent years.

Investors expressed concern that the new administration would change the constitution and also undermine the autonomy of the central bank, Gabriela Siller, head of economic analysis at the financial group BASE said.

Claudia Sheinbaum will become the first woman president of Mexico. Picture: Manuel Velasquez/Getty Images

World leaders were quick to offer their congratulations.

US President Joe Biden said he looked forward to collaborating with her “in the spirit of partnership and friendship.”

Canadian Prime Minister Justin Trudeau, another key North American ally, also offered congratulations and wrote: “our free trade agreement is the envy of the world.”

Brazilian President Luiz Inacio Lula da Silva, a fellow leftist, hailed a “victory for democracy” and vowed to deepen economic ties between Latin America’s two biggest economies.

Russian President Vladimir Putin and Ukraine’s Volodymyr Zelensky were among other leaders offering congratulations.

Claudia Sheinbaum leaves in a car to Zocalo Square following the results of the general election in Mexico City, on June 3, 2024. Picture: AFP

Her campaign benefited from the popularity of outgoing president Andres Manuel Lopez Obrador, a fellow leftist and mentor, who was limited to one term.

Her main opponent centrist Jorge Alvarez Maynez conceded defeat.

However, he complained of “unequal competition against the entire state apparatus dedicated to favouring its candidate” and vowed to challenge the result, although did not say how.

Mexican women cheered the breaking of the highest political glass ceiling in a nation where around 10 women or girls are murdered every day.

“Our society is violent, sexist, misogynistic and Dr Sheinbaum as president will really be able to help change not only the laws but society,” said Lol-Kin Castaneda, 48, who waited late into the night to hear the winner speak.

Members of the National Guard and Mexican Army. Picture: AFP

More than two dozen aspiring local politicians were murdered during a particularly violent election season.

The bloodshed continued after polls closed, with a local mayoral candidate killed in the country’s south late Sunday, authorities said.

In the central Mexican state of Puebla, two people died after unknown persons attacked polling stations Sunday to steal papers, local authorities said.

Voting was suspended in two municipalities in the southern state of Chiapas because of violence.

More than 450,000 people have been murdered and tens of thousands have gone missing since the government deployed the army to fight drug trafficking in 2006.

Sheinbaum will also have to manage delicate relations with the neighbouring United States, in particular the vexed issues of cross-border drug smuggling and migration.