Mexico's moderate Finance Minister Carlos Urzua resigned on Tuesday with a ...
MEXICO CITY - Mexico’s moderate Finance Minister Carlos Urzua resigned on Tuesday with a letter that shocked markets by citing “extremism” in economic policy, before President Andres Manuel Lopez Obrador quickly named a well-regarded deputy minister to replace him.
“I’m convinced that economic policy should always be evidence-based, careful of potential impacts and free of extremism, either from the right or the left,” Urzua wrote.He also said there were what he called conflicts of interest in the appointment of some ministry officials imposed on him by influential members of the government. He did not give more details.
“ is a well-known figure with good dialogue with market participants and is not perceived as a ... dogmatic individual,” said Alberto Ramos, head of Latin American research at Goldman Sachs. Before the government took office on Dec. 1, Urzua was tasked with meeting with dozens of investment funds to convey that the government was center-left, rather than leftist.
Urzua deeply cut back spending programs in a strategy aimed at cleaning out corruption and largesse with a new, more centralized model of assistance. He also began a program of centralizing procurement, in another drive for efficiency and clean government.
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