Mexico’s finance minister falls out with its populist president

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 seven months in office, he quit, abruptly and noisily. In a venomous letter he said his ministry had been forced to employ unqualified people.

The biggest source of tension was probably Pemex, the ailing state oil company. It is soon to present a plan for dealing with its $100bn debt. The finance minister draws up the company’s budget, so Mr Urzúa would have been involved. The president views oil as a foundation of Mexico’s greatness, insists the state should control it and opposes selling off money-losing parts of the company . Rocío Nahle, the energy secretary, shares the president’s views.

Mr López Obrador named the minister’s successor within an hour of his resignation. His choice of Arturo Herrera, a finance undersecretary, helped calm the markets’ nerves. Mr Herrera, who has worked at the World Bank and as finance secretary in Mexico City when Mr López Obrador was its mayor, is thought to be wonkish and to understand the importance of the financial markets.

Oh, goody, that means Mexico will feel more incline to let more migrants across the border and laugh about what the Americans are going to do about it.

También deberá de pedir disculpas The Economist ?

'populist' df is with you guys?

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

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.
Sumber: WSJ - 🏆 98. / 63 Baca lebih lajut »

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.
Sumber: Reuters - 🏆 2. / 97 Baca lebih lajut »

Mexico’s finance minister falls out with its populist presidentCarlos Urzúa’s abrupt departure worries investors
Sumber: TheEconomist - 🏆 6. / 92 Baca lebih lajut »

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?
Sumber: CNN - 🏆 4. / 95 Baca lebih lajut »