Mexico Pres names Deputy finance Minister Herrera as new finance minister

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The USDMXN continues volatile trade

The Mexican Pres. Lopez Obrador has named deputy finance minister Herrera as the new finance minister. I guess he nominates him.  

He further comments that the ex-FM Urzua is not in agreement with our government decisions.  

Urzua in his twitter resignation letter said:

  • Some public policy decisions were made without sufficient foundation
  • It was unacceptable that some public servants lack of knowledge of finance ministry
  • Naming of unprepared public servants in ministry was motivated by influential people in the government with conflicts of interest
  • He felt forced to quit

Goldman is out with their thoughts on the unexpected resignation by saying:

  • resignation suggest friction within president Lopez Obradors administration
  • suggests economic policy decisions may be guided, informed by non-economic, financial criteria
  • economic policy decisions may be made by people without the required, relevant credentials

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