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November 22, 2022
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AMLO explores "Other options" for Gerardo Esquivel’s place in Banxico

AMLO explores "Other options" for Gerardo Esquivel's place in Banxico

“We are going to explore other possibilities in the government itself in representations of Mexico abroad,” said the president after being questioned in his morning conference about the future of Esquivel at the Mexican central bank. “Let’s look at options.”

For several weeks now, the future of the UNAM economist has been the subject of speculation, since he has not received the endorsement of the Presidency of the Republic to remain as deputy governor for an additional period, to which he is entitled in accordance with the Banxico Law.

Esquivel was one of the closest economic advisers to President López Obrador during the presidential campaign and the first years of his government; however, a distance between the positions of both has recently been reported, especially in matters of economic policy.

If the current lieutenant governor is not his main option to stay in office, the president must rush the nomination of another person, since Esquivel’s term ends on December 31. Currently, the rest of the central bank’s Governing Board is made up of Governor Victoria Rodríguez and Deputy Governors Jonathan Heath, Irene Espinosa and Galia Borja.

One of the options for Esquivel that the government proposed was his nomination for the presidency of the Inter-American Development Bank (IDB), since he lost yesterday to the Brazilian Ilan Goldfajn.

Regarding the election in the international organization, López Obrador stressed that the process was more of the same and that the candidate that the United States wanted was chosen.

“There is no change in the election of the director of the IDB, it is more of the same, it is what has been applied throughout the neoliberal period,” he said in his conference.



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