The Central Bank of Mexico (Banxico) has taken note of the concerns of the outgoing deputy governor Gerardo Esquivel regarding the issuing entity not having a monetary stance excessively restrictive, the entity’s Governing Board member, Jonathan Heath, said on Tuesday.
Esquivel, whose term ended on December 31 and who still has no successor, joined the bank’s leadership at the beginning of 2019 after Congress approved the appointment sent by the Mexican president, Andrés Manuel López Obrador, although both later had some public disagreements.
“We will miss Gerardo Esquivel“, Heath said on Twitter, confirming that he will not be ratified in office. “We take note of your concerns, especially, not to become excessively restrictive monetary stance and allow the already achieved restrictive stance to operate,” he added.
We will miss Gerardo Esquivel, since he always contributed to the discussion with good arguments. However, we take note of his concerns, in particular, not to become excessively tight and allow the tight stance already achieved to operate.
— Jonathan Heath (@JonathanHeath54)
January 3, 2023
Previously, in the same social network, Heath stated that the institutional design of Banxico “It is very robust” and the organization can function “very well” with one less member on its Governing Board, although he clarified that the best thing to do is to make decisions with its five members.