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December 2, 2021
1 min read

Banxico officials can earn more than the President

Eduardo Murillo

La Jornada newspaper
Thursday, December 2, 2021, p. eleven

Senior officials of the Bank of Mexico (Banxico) may continue to earn more than the President of the Republic, at least until the Supreme Court of Justice of the Nation resolves the constitutional controversy that this autonomous body filed against the Federal Law of Remuneration of Public Servants (LFRSP).

The precautionary measure was granted by Minister Fernando Franco González Salas, in one of his last decisions, before the end of his constitutional period in office next week.

The suspension requested by Banco de México is granted, under the terms and for the purposes indicated in this provision. The suspension measure granted will take effect immediately and without the need to grant any guarantee., indicates the agreement of Minister Franco, published in court.

The central bank challenges the LFRSP issued on May 19 of this year, arguing that its application violates its autonomy: The referred Remuneration Law gives rise to the invasion of the competence sphere and the attributions that the Federal Constitution grants to this central institute, in particular, in article 28.

Said constitutional article states that Banxico is an autonomous body in the exercise of their functions and in their administrationThe central bank affirms that this autonomy must be fulfilled even at the cost of what the other powers of the Union decide or may decide otherwise.

Banxico is one of the autonomous bodies, such as the INE, Cofece, the Federal Telecommunications Institute and the National Institute of Geography and Statistics, which have managed to prevent the LFRSP from being applied to them, through controversies brought before the Supreme Court.

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