Claudia Sheinbaum becomes Mexico's first woman president

Claudia Sheinbaum is Mexico's new president, becoming the first woman to hold the title after being sworn in during a boisterous ceremony.

The 62-year-old will hold the title for a single six-year term.

Sheinbaum said: "I am a mother, grandmother, scientist, and woman of faith and, as of today, by the will of the people of Mexico, the constitutional president of the United Mexican States."

Sheinbaum is a trained physicist and Mexico City's former mayor.

Until she stepped down as mayor she was known as a data-driven manager, winning approval for reducing the megacity's homicide rate by half by boosting spending on an expanded police force.

She's a loyal ally of former leftist President Andres Manuel Lopez Obrador – and has promised "continuity with change" – saying she'll build on her mentor's social programs.

Sheinbaum has vowed to bolster women's rights and ensure Latin America's No. 2 economy remains a secure destination for international investment.

She used her first speech to address investors over a sweeping judicial reform pushed by Lopez Obrador.

"We will promote public investment and private investment. I say this very clearly - rest assured that the investments of domestic and foreign shareholders will be safe in our country," she added.

Her pledges range from expanding public healthcare and education to building 1 million new homes, capping prices for key goods and sending Congress a package of reforms to battle gender violence and discrimination.

Experts say Mexico's economy will require a tax reform to increase revenues, though Sheinbaum has ruled out a sweeping tax overhaul for now.

Her government's first budget is expected to be highly scrutinized for clues on whether she'll make good on commitments to reduce the fiscal deficit to 3.5% of GDP.