Mexico’s new finance chief has spent decades at Andres Manuel Lopez Obrador’s side. That experience will come in handy as he takes on his biggest challenge: trying to shape economic policy in an administration tightly run by the nationalist president.PUBLICIDAD
Rogelio Ramirez de la O, who last week was nominated as Mexico’s finance minister, will begin what is traditionally the country’s most influential cabinet role with the goal of obtaining a level of independence his predecessors didn’t enjoy under Lopez Obrador.
Un cambio para el bien de México: Arturo Herrera será propuesto como gobernador del Banco de México y llega a la Secretaría de Hacienda y Crédito Público, Rogelio Ramírez de la O. https://t.co/msD5Q45y96 pic.twitter.com/TFgOlnFGLG— Andrés Manuel (@lopezobrador_) June 9, 2021
An early test in the relationship between the president known as AMLO and his long-time adviser will focus on the budget: The new minister, who takes office next month, wants to speed up growth via additional debt-fueled public spending, according to people with knowledge of his thinking.
That would be a significant shift for a president who has made austerity a pillar of his government. AMLO has stuck to his pledge not to take on new debt or give sizable economic stimulus even during the Covid pandemic, and Mexico ended 2020 as one of the few countries in the world with a primary surplus.
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