Economy & Business - June 2021

MEXICO: Markets react positively to new Banxico and SHCP appointees

President Andrés Manuel López Obrador said on 21 May that he would not extend Alejandro Díaz de León’s term as governor of Mexico’s central bank (Banxico) once his current term expires on 31 December. López Obrador said that instead of an orthodox economist he wanted one with a “social outlook” and committed to “moral economics” to head Banxico, which caused alarm among analysts. However, López Obrador’s announcement that he would nominate his finance minister, Arturo Herrera, as the next Banxico governor and that Herrera will be replaced by another respected economists has helped to ease market concerns.

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