Mexican finance minister resigns

epa07454722 Secretary of Finance and Public Credit Carlos Urzua participates in the inauguration of the 82nd annual meeting of the Mexican bank in Acapulco, state of Guerrero, Mexico, 21 March 2019. Governor of the Bank of Mexico Alejandro Diaz de Leon said that Mexico will achieve its goal of reducing inflation to 3 percent in the middle of next year thanks to the monetary policy that is being carried out. EPA-EFE/DAVID GUZMAN

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Mexico’s finance minister has quit over differences with the country’s president Andrés Manuel López Obrador.

In a letter, Finance Secretary Carlos Manuel Urzúa Macías said there were many economic “discrepancies”.

He also said in the letter that economic policy had to be based on evidence and be free of “extremism”.

The currency and stock markets fell after the news of his resignation.

Arturo Herrera Gutiérrez has taken over as finance secretary of Latin America’s second-largest economy.

This resignation is a very hard blow to López Obrador’s government, whose popularity is decreasing.

 

Via BBC

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