Twenty-three years ago, Mexico’s Zapatista National Liberation Army (EZLN) successfully executed its famous uprising under its leader, Subcomandante Marcos, which many thought would be the first sentence on a new page in Mexican history. The revolution in Chiapas, which was intentionally planned to align with the introduction of the North American Free Trade Agreement (NAFTA), seemed as if it would achieve its goal of realizing rights for indigenous people (Young 2017).
Over the past few years, Mexico’s financial landscape has been undergoing a painful transformation, largely due to the sudden drop in oil prices seen worldwide. Just ten years ago, 35 percent of the government’s revenue was derived from crude oil production. As of last year, though, this had fallen to 20 percent as prices fell and the Mexican state-owned company Pemex reduced its typical 3.4 million barrel per day (bpd) production rate to around 2.2 million bpd.