The Financial Times and other international media reported Luis Videgaray will step down as Mexico’s finance minister, citing local media reports on Wednesday Sept. 7.
Videgaray, one of President Enrique Peña Nieto’s closest allies and the architect of his structural reform programme, has been in the firing line after last week’s disastrous meeting between the president and Republican US candidate Donald Trump, which was reportedly his idea and which he has defended to the hilt, writes Jude Webber.
Videgaray is expected to be replaced by José Antonio Meade, social development secretary, who has held the post under former President Felipe Calderón and is considered a safe pair of hands.
Videgaray’s spokesman could not immediately be reached but she told the Radio Fórmula radio station that the minister was leaving his post, according to tweets from Ciro Gómez Leyva, the radio show’s host.
Videgaray, dubbed the “Viceroy” for his power behind the throne, is little loved by corporate Mexico. The government is due to present an austere 2017 budget on Thursday as concern mounts about sluggish growth and rising debt.
Mexico shares fluctuated on the news, with the iShares MSCI Mexico exchange-traded fund falling as much as 1.1 per cent before paring its losses to 0.7 per cent.
more recommended stories
Severe fines against those who throw trash in the open
Numerous residents and visitors continue to.
Crime grows in Yucatan -SESNSP-
Theft, drug dealing, minor attacks, fraud.
World Boxing Council reveals the “Maya Belt” For Canelo vs. Jacobs
Mexican culture is one of the.
Ocean suddenly recedes from the Yucatan shore
TELCHAC PUERTO Yucatan – In the.
Central American migrants heading to U.S. are being detained by Mexican authorities
Central American migrants hoping to reach.
Survey shows Governor Mauricio Vila has approval of majority of voters
The company Massive Caller published the.
Izamal’s Chaltun Ha pyramid becomes the new tourist attraction in the area
With the inauguration of the Chaltún.
Two men assault Situr bus driver in Mérida and wounded him with a knife
In an incident that never happened.
Survey says perception of security for Mérida residents is one of the best in the country
Mérida is one of the five.
New Marina projected for the Celestún harbor
A gasoline distribution company promotes the.