The electorate of Mexico's president has pledged to advance judicial and constitutional changes.

The nation's first female president, Claudia Sheinbaum, signaled her will to move forward with the reforms despite concerns that have caused market instability and severely hurt the peso by promising further consultations.

Sheinbaum told reporters during her first press conference following her election on June 2 that she is adamant about her vow to amend the constitution after meeting with departing president and close ally Andres Manuel Lopez Obrador.

"These are among the first reforms that can be approved," she stated, saying that one of the first actions being considered would be the replacement of appointed Supreme Court justices with members of the public assembly.

Some lower courts will also be affected and key regulatory agencies could be eliminated. Critics have warned that the reforms would fundamentally alter the balance of power in Mexico.

During her news conference, however, Sheinbaum promised wide consultation with stakeholders within the judicial system.

“In the case of the judicial reform, (discussion) should be through the bar association, professors of law, the ministers and magistrates themselves,” she said.

Some of the planned measures featured in a slew of constitutional reforms proposed by Lopez Obrador in February that would also eliminate key regulatory agencies.

The president-elect’s coalition has secured the two-thirds supermajority in the lower house required to pass the reforms. It fell just short in the Senate but could earn extra votes through negotiations.

The 61-year-old Sheinbaum will take office on October 1, but the Congress is expected to convene at the start of September. This would potentially give Lopez Obrador a window of a month to push through reforms before handing over the baton.

The outgoing president still enjoys an approval rating of more than 60 percent, but could not run again due to Mexico’s presidential term limits that allow only one term in office.

Sheinbaum, a former mayor of Mexico City, said that she does not expect the judicial overhaul to affect financial markets.

However, the peso weakened by nearly 2 percent to about 18.55 per United States dollar in international trading as she was speaking.

The Mexican currency is down by about 8 percent since the June 2 elections that The president-elect’s coalition has secured the two-thirds supermajority in the lower house required to pass the reforms. It fell just short in the Senate but could earn extra votes through negotiations.

The 61-year-old Sheinbaum will take office on October 1, but the Congress is expected to convene at the start of September. This would potentially give Lopez Obrador a window of a month to push through reforms before handing over the baton.

The outgoing president still enjoys an approval rating of more than 60 percent, but could not run again due to Mexico’s presidential term limits that allow only one term in office.

Sheinbaum, a former mayor of Mexico City, said that she does not expect the judicial overhaul to affect financial markets.

However, the peso weakened by nearly 2 percent to about 18.55 per United States dollar in international trading as she was speaking.

The Mexican currency is down by about 8 percent since the June 2 elections that Sheinbaum and her party won in a landslide, while the main stock index has fallen nearly 4 percent. while the main stock index has fallen nearly 4 percent.