This Wednesday President Andrés Manuel López Obrador announced the departure of Arturo Herrera from LA, to propose him as the successor of Alejandro Díaz de León as Governor of the Bank of Mexico (Banxico). His place will be taken by Rogelio Ramírez de la O , who has collaborated with the Tabasco politician for more than 15 years.
Who is the new Secretary of the Treasury?
We present you a semblance of his career:
Rogelio Ramírez de la O has a degree in Economics from the National Autonomous University of Mexico (UNAM) and obtained his doctorate in Economics from the University of Cambridge, England, with research on international trade and business and industrial activities, with a prelude to what would later become the Mexican liberalization of foreign direct investment and the North American Free Trade Agreement (NAFTA), according to information from ecanal.
The new head of public finances was the general director of economic analysis at Ecanal, a private economic analysis company for the Mexican and foreign private sector. He has also been a director of large foreign investment funds with interests in Mexico, as well as the Patria reinsurance company and the Pena Verde consortium.
Ramírez de la O has been close to now-president Andrés Manuel López Obrador for more than 10 years, as part of his expert council in 2006 and in the 2012 campaign.
His name was already sounding to arrive at the Treasury when Carlos Urzúa left office in mid-2019, but finally it was Arturo Herrera who remained in command.
“Ramírez de la O is recognized as one of very few economists who foresaw the 1994 peso crisis and later the crisis and rescue of the banking system with its consequent fiscal effects,” highlights the President López Obrador page.
“I am assuming this responsibility after having spent many years observing and studying the Mexican economy from my private activity, seeing the evolution of the leagues with the global economy, as well as the performance of various regions of the country,” said Ramírez de la O in his presentation as Secretary of the Treasury on Wednesday afternoon.
As person in charge of public finances, Ramírez de la O will be in charge of the next tax reform, which, Undersecretary Gabriel Yorio announced this Wednesday, does not contemplate increasing tax rates, but rather improving collection efficiency and increasing the taxpayer base.
