Corruption Fears Drive Sheinbaum Approval to All-Time Low
Key Facts
— —Sheinbaum approval dropped to 51% in April, three points below March and at least 15 points below a year ago, per Bloomberg-AtlasIntel.
— —Corruption (59%), crime (39%), and inflation (31%) are voters’ top three concerns. Nearly half rate the economy as bad.
— —The drop coincides with a GDP contraction, the Rocha narco indictment, and 84% of Mexicans reporting higher prices since the Iran war began.
Sheinbaum approval has crossed below the majority threshold for the first time since she took office, as corruption scandals within her own party compound economic and security concerns.
The Rio Times, the Latin American financial news outlet, reports that Mexico’s President Claudia Sheinbaum recorded her lowest approval rating in the latest LatAm Pulse poll conducted by AtlasIntel for Bloomberg News. The April survey of 2,948 adults found 51% approval — down three points from March, at least 15 points below her standing a year ago, and a new floor for her 18-month-old administration. Disapproval rose to 43%.
What’s Driving the Sheinbaum Approval Decline
Corruption has become the dominant concern. Fifty-nine percent of respondents named it as Mexico’s top problem — a sharp increase driven by a series of scandals involving Morena officials, including a mayor arrested for extorting multinational companies and allegations of links to fuel smuggling networks. The DOJ indictment of Sinaloa’s Morena governor on narcotics charges, announced the same day as the poll, will compound the pressure.
The economy is equally corrosive. Nearly half of respondents described economic conditions as bad, and 84% said prices have risen since the Iran war began in late February. The GDP contraction of 0.8% in Q1, released on the same day, adds empirical weight to the public’s perception.
Live Market IntelligenceMexico — Live Market Board
Rio Times · Live Market Intelligence
Mexico — Live Market Board
-0.42%
185,446.90
+0.14%
65,163.64
-0.42%
11,315.26
-1.14%
3,048,162
-0.33%
2,539.63
+0.20%
59,978.22
-0.37%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPC MEX | 65,163.64 | -0.42% | +12.17% | 65,436.16 | 66,121 | 65,405 | 108,886,187 |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| WALMEX | 48.07 | -0.62% | -14.38% | 48.37 | 48.65 | 48.02 | 10,781,446 |
| GMEXICO | 223.28 | +0.35% | +73.59% | 222.50 | 226.18 | 222.17 | 1,325,556 |
| FEMSA | 201.19 | -0.24% | +25.67% | 201.67 | 206.71 | 199.56 | 750,706 |
| CEMEX | 19.32 | +0.89% | +19.10% | 19.15 | 19.35 | 19.04 | 14,327,054 |
| GFNORTE | 193.98 | +1.18% | +14.36% | 191.71 | 195.79 | 191.83 | 1,579,115 |
| BIMBO | 60.98 | -0.96% | +11.89% | 61.57 | 61.46 | 60.29 | 1,048,115 |
| TELEVISA | 9.71 | +0.21% | +12.78% | 9.69 | 9.75 | 9.60 | 577,851 |
| AMX | 19.80 | -0.95% | +12.53% | 19.99 | 20.05 | 19.70 | 58,058,525 |
| GAP | 366.23 | +0.43% | -21.21% | 364.68 | 370.85 | 362.82 | 226,946 |
| ASUR | 275.04 | +1.25% | -15.28% | 271.64 | 275.08 | 271.31 | 15,451 |
| OMA | 233.50 | +0.62% | -6.48% | 232.06 | 235.00 | 230.62 | 555,693 |
| KOF | 188.04 | +0.86% | +18.94% | 186.44 | 188.56 | 185.52 | 425,273 |
| GRUMA | 252.90 | +0.11% | -21.85% | 252.61 | 254.74 | 250.36 | 90,048 |
| KIMBER | 39.74 | +0.43% | +8.85% | 39.57 | 40.09 | 39.33 | 490,551 |
| AMX ADR | 23.38 | -0.23% | +22.25% | 23.43 | 23.49 | 23.06 | 1,347,445 |
Still Popular, But the Trend Is Clear
Sheinbaum remains one of Latin America’s most popular leaders — other pollsters using different methodologies still show her in the 60-70% range. But the Bloomberg series, which uses consistent methodology across time, shows a clear and accelerating decline since January, when she stood above 60%. The trajectory matters more than the level.
For investors, the slide increases the risk that Sheinbaum pivots toward populist spending ahead of the 2027 midterm elections rather than pursuing the structural reforms — in energy, investment climate, and security — that the weakening formal economy requires. The poll found that 40% expect conditions to improve in six months, but 29% expect deterioration — a split that leaves the political incentive structure pointing toward intervention rather than patience.
Related Coverage
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