EconomyArturo Herrera leaves the Treasury and profiles for the...

Arturo Herrera leaves the Treasury and profiles for the governorship of Banxico

President Andrés Manuel López Obrador, has proposed Arturo Herrera, as president of the Governing Board of the Bank of Mexico (Banxico).

Herrera will go to the Board of Banxico, and as “who has helped me a lot all this time,” said the president this Wednesday during the announcement of the changes in a live video on You Tube.

The approval of Herrera’s appointment by the Senate will coincide with the most critical part of the preparation of the budget and the economic package for 2022.

“It seems to me that the economic package that is coming will allow the exit in the post-covid economy, the most correct thing was that it was prepared by whoever is going to execute it, in this regard I am very happy with the arrival of Ramírez de la O, pass the post to him, I’ll stay calm, “said he, now nominated for president of the central bank’s Governing Board.

The president explained that after the elections, the way comes to define the budget for the following year.

“It is an honor to assume the position of head of the SHCP, to continue with the good work that has been done in this matter, by those who have preceded me. The current moment is key for Mexico, we are emerging from a global recession, we must all work together, so that the lessons serve to build a stronger economy in the country, ”said Rogelio Ramírez de la O.

The new head of the Treasury explained that he will focus on meeting four specific requests from the president: achieving a healthy fiscal balance year after year by 2024; achieve economies in the use of public resources; balance and improve accounts in the energy sector, and see the opportunities that exist in development banking.

“We want in this second section of government, after the federal elections, for the integration of the new legislature, to maintain economic stability. Despite the pandemic, the crisis has been overcome, we have done better than other countries, and we have not borrowed, all countries resorted to debt with the pandemic, “said López Obrador.

He mentioned that the peso has not been devalued, in addition to the fact that the government has fulfilled the promise not to increase the price of energy.

“The pension for the elderly, programs to support education and health will increase. For this reason these changes, that there is no nervousness or uncertainty, and that this change is carried out in an orderly manner ”, commented the Chief Executive.

Mexico will have 1.29 billion pesos of income via debt in 2023

According to Gabriel Yorio, Undersecretary of Finance, the amount is in line with the goal of maintaining debt as a percentage of GDP in a constant and stable manner.

LAST MINUTE: Income and Rights laws for 2023 are approved in Congress

Without changes to the opinions sent by the Chamber of Deputies, the senators voted in favor of the Federation Income Law and the Federal Law of Rights, budget is missing.

LAST MINUTE: The Income Law and the Law of Rights 2023 pass to the...

The Treasury and Legislative Studies commissions voted in favor of the opinions of both laws to be discussed and voted on in the upper house on Tuesday.

LAST MINUTE: Treasury rules out a 20% depreciation of the peso against the dollar...

Undersecretary Gabriel Yorio considers that the consultant's estimate is "exaggerated" and that these levels would not be reached in one or two years.

Public savings run out

The Treasury has increasing difficulties in obtaining resources and the lifeline of public finances is beginning to run out.