Baja California Sur Governor proposes nationalization of banks and shipping

Víctor Castro Cosío, the Governor of Baja California Sur, has sparked significant political controversy by proposing the gradual nationalization of strategic sectors, including banking, shipping, aviation, and railways. Castro Cosío argued that the state should reclaim sectors that were previously privatized, suggesting that expropriation could be used when private interests harm society.

The proposal has faced sharp criticism from various political figures. Kenia López Rabadán, President of the Chamber of Deputies, labeled the remarks ‘irresponsible’ and ‘a very dangerous message’ that could create uncertainty regarding investment, employment, and property rights. Even within his own party, Morena, federal deputy Ricardo Monreal expressed disagreement with the idea of nationalizing banks.

In addition to economic proposals, the Governor’s administration is facing backlash over a plan to expropriate lands within the Sierra La Laguna Biosphere Reserve for ‘low-impact tourism.’ Members of the Council of Ranchers of the Protected Natural Area warn that such a move could lead to the dispossession of families who have lived in the region for generations, noting that the area has been federally protected since 1994.

In response to media criticism regarding his management and these controversial stances, Castro Cosío dismissed detractors, stating he would not engage with those seeking to decontextualize his words for political gain.