IN MEXICO’S leftist populist government, Carlos Urzúa, the social-democratic finance minister, was a reassuring figure. The president, Andrés Manuel López Obrador, has unorthodox ideas about how to develop Mexico. Mr Urzúa would help make sure, investors hoped, that he pursued them without wrecking the economy. But on July 9th, after six months in office, he quit, abruptly and noisily.
In his parting letter he wrote that “differences of opinion” and decisions “taken without sufficient basis” were among the factors that prompted him to leave. It is not clear what these were. Mr Urzúa took the job fully aware of Mr López Obrador’s most contentious proposals, such as building an oil refinery at a cost of $8bn and a “Maya train” in Mexico’s impoverished south.
Mr Urzúa may also have been frustrated by the president’s swingeing cuts to salaries and benefits of civil servants. These prompted the exit of many of the officials who have run the finance ministry for decades.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexican Finance Minister Carlos Urzúa ResignsThe member of Andrés Manuel López Obrador’s cabinet cited differences over economic policy and what he considered to be insufficiently prepared officials. The peso weakened sharply against the dollar. Our country is falling apart with this incompetent president. Please note I do not say this lightly. Mexico is at great risk under the current government. jenarovillamil In a nutshell, shit has his the fan, abandon ship. The Mexican economy is in recession and nobody is interested.
Source: WSJ - 🏆 98. / 63 Read more »
In blow to Mexican president, finance minister quits over economic 'extremism'Mexico's moderate Finance Minister Carlos Urzua resigned on Tuesday with a ... Hyperbolic statement made by UK judges in Tommy Robinson case Also known as Socialism AMLO is the cheap version of Trump.
Source: Reuters - 🏆 2. / 97 Read more »
Mexican finance minister quits with scathing resignation letterMexico's finance minister, Carlos Urzúa, quit abruptly on Tuesday, with a letter of resignation that appeared highly critical of the current administration, and raised questions about the president's much-vaunted promise to reduce corruption. I wonder if he was highly critical of the 34000 murders within Mexico last year?
Source: CNN - 🏆 4. / 95 Read more »