Newsletter 19 ENG

The "Marijuana Fever" in Mexico

Vehículos y Dispositivos Voladores Reales

Picture Source: Google Marijuana on the rise on the Nasdaq

Mexico City CDMX, Updated on November 19, 2020 (appro.) .- Remarkable news happened last Thursday, November 19, 2020, a day classified as "Historic" level where the senators approved with 81 votes in favor, 18 against and 7 abstentions, the initiative to legalize the use of Marijuana in México for Recreational, Scientific, Medical and Industrial use, which will drag the country towards the largest Cannabis market in the world, at a time when the nation is plagued by the violence of drug cartels. This initiative stipulates that only people over 18 years of age will be able to grow, carry and consume marijuana and its derivatives according new law private possession will be allowed less than 28 grams, 28-100 grams. With administrative penalties and jail above 200 gr. but the use of psychoactive cannabis is prohibited in public or private work areas agreed in the new Law approved.

This law includes the creation of the Mexican Institute for the Regulation and Control of Cannabis as a government office that will depend on the Ministry of Health.The legalization of the use of Marijuana has been a controversial issue in the country of México for some years, initially arguing the medicinal and scientific use but everything changed when this group organized by rich people proposed "Suddenly" within the proposed document the use of this drug for "Recreational Purposes" which is completely different from the first type of use.

Everything will then add to a contradictory reality in Mexico where buying a liter of beer is cheaper than buying a liter of milk and where the legislative work is now focused on solving in the midst of the crisis of the COVID SARS-19 pandemic to It seems "with all urgency" the decriminalization of individual possession, consumption, as well as setting new rules for the distribution, export and Supply chain which in according to finance experts, is rather the missing piece in the chain's Fiscal and Financial puzzle supply of North America that now gives the possibility of legally entering the international banking, commercial and stock exchange system to companies that are dedicated to producing, transporting or selling Cannabis products and derivatives or sell their products to large Canadian and American corporations since their registration with the New York Stock Exchange have reported a total of profits to date of more than 2.5 USDB (Two point five billion dollars) -Cannabis Industry Report 2018- 2020.

Inevitably various questions arise such as: Why is this issue so important to authorize at this time for the country and not others that are in the opinion of experts much more important such as child sexual and labor exploitation in Mexico as described by the UN in its annual report, the serious indicators of poverty and the food crisis in which millions of Mexicans find themselves who survive on less than 10 dollars a week, as described by ECLAC or the CID; ; ¿Where is the regulation and when will the future of cocaine, heroin, methamphetamine, fentanyl and other strong drugs be debated? Or perhaps this Law belongs to the economic measures that the government will propose to be able to return employment and education to families in Mexico after the pandemic or a proposal to counteract the negative effects of the catastrophes and floods that currently affects the country.

The prevention and treatment of addictions in Mexico are insufficient even with programs such as the National Strategy against Addictions and the question of how the legalization of this drug products can help to reactivate the economy It is not clear when the products by basket of goods and services in Mexico have not been able to decrease the price due to the insufficient measures of the authorities on them, as well as the imminent implementation of this Law that benefits a few rich minorities in the country and that the Activists in favor of this movement said that “It was only a matter of time to approve” in the opinion of some experts, it sets a very bad precedent in the country and Latin America (LATAM) since the conditions in North America are completely different from those in México or other countries should remember that within the fundamental objectives of governments and the constitution in the country It is necessary to seek by all means the protection and defense of the rights of individuals but also of the family and children who are and will be the fundamental columns of society.

Written by the Economist Rosa M. Banda Mtz.