

(Bloomberg) — Mexican President Andres Manuel Lopez Obrador met central bank Governor Alejandro Diaz de León to ask for an advance on the bank’s exchange-rate surplus. He returned empty-handed, for now.
In a statement, Banxico said that both Lopez Obrador and Diaz de Leon discussed the importance of following the existing procedure and timing regarding the surplus as laid out in the central bank’s own regulations.
The surplus — which is scheduled to be paid out in April next year — may eventually represent a windfall for Mexico’s government as it tries to hold its fiscal position amid shocks from an oil slump and the coronavirus.
“Banxico won’t know how much is left over until the end of the year,” said New York-based Bank of America economist Carlos Capistran. “It seems appropriate to me that Banxico respects the timing established by the law.”
Lopez Obrador had said that he would ask about a possible advance payment on that funding in a morning press conference on Thursday. In a tweet after the meeting, the president said that discussions were cordial and that he had reiterated his absolute respect for the central bank’s independence.
Source: bloomberg.com
Comments
more recommended stories
Mauricio Vila reviews the latest details of the ‘La Plancha’ project
After managing the use of the.
Fatal accidents involving motorcyclists increase in Yucatan
Freddy Cetina Amaya, leader of the.
32-year-old patient dies from Covid in Yucatan
In Yucatan, the mandatory use of.
Yucatan is the state with the highest index of peace in all of Mexico
For having the lowest rates at.
Yucatan is present at the Tianguis Turístico 2022
Governor Mauricio Vila Dosal attended the.
Invasion and massive destruction of mangroves in Chicxulub Puerto
Inhabitants of Chicxulub Puerto ask to.
Title 42 has empowered U.S. agents to turn back over one million migrants to Mexico and other countries
For thousands of migrants who have.
Progreso Marinas report an increase of up to 30 percent in port departures
Yucatan commercial marinas reported an increase.
Environmental Impact studies for the Maya Train will be submitted for public consultation
The Environmental Impact Statement (MIA) of.
The Jurassic Trail aims to be an economic trigger for the port of Progreso
The Jurassic Trail continue with the.
Leave a Comment