Mexican IMSS Reform Bill Now Law

After many weeks of heated discussion in the Mexican legislature (both in the lower Chamber of Deputies and in the Senate), the controversial Mexican Social Security Institute reform bill was passed into law last month. However, the Marketletter's local correspondent says that with the disgruntled feelings of the two major opposition parties, the controversy is far from over.

Juan Millan, president of the majority Party of Revolutionary Institutions' Labor Commission, stressed that changes in the new law do not mean total privatization of the 52-year-old IMSS. He and other PRI supporters said that the new law provides for certain functions to be privatized, and that this will eliminate much of the former government red tape.

With the new modifications, medical care will remain under the control of the IMSS, with future plans calling for a major improvement in health care for citizens. But the controversial aspects of the President's original proposal, calling for privatization of pension funds,` are still open.