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Mexico's president taps finance minister to head central bank

Kitco News

Mexico's President Andres Manuel Lopez Obrador said on Wednesday that he will propose finance minister Arturo Herrera to replace Bank of Mexico chief Alejandro Diaz de Leon when his term at the central bank expires at the end of 2021.

Economist Rogelio Ramirez de la O will be named to replace Herrera, Lopez Obrador said on Twitter, in what will make him the third finance minister the president has had since he took office at the end of 2018.

Ramirez is a longstanding adviser to Lopez Obrador and was his pick for finance minister when he first ran for the presidency in 2006, an election he narrowly lost.

Herrera, a former World Bank executive, took on the job of finance minister in July 2019 after his predecessor abruptly quit, offering strong criticism over the direction of policy.

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