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  24 Nov 2021, 10:12

Mexico president scraps choice for central bank chief

 MEXICO CITY, Nov 24, 2021 (BSS/AFP) - Mexican President Andres Manuel
Lopez Obrador has withdrawn his nomination of former finance minister Arturo
Herrera to head the central bank, Herrera announced Tuesday.

   Lopez Obrador had proposed his then finance minister in June to be
governor of the Bank of Mexico, subject to approval by the Senate.

   "The president informed me a week ago that he had decided to reconsider my
appointment as head of the Bank of Mexico," Herrera tweeted without
elaborating.

   Herrera has already been replaced as finance minister by Rogelio Ramirez
de la O, an economic consultant and ally of Lopez Obrador.

   The surprise withdrawal of Herrera's nomination "creates uncertainty,"
tweeted Gabriela Siller, head of analysis for the financial group BASE.

   "International investors are asking who will be the next governor of the
Bank of Mexico and why Herrera was not ratified," she added.

   The news comes at a time when Mexico is facing rising inflation that has
prompted the central bank to raise interest rates for fourth consecutive
meetings.

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