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January 19, 2023
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Mejía Castelazo is the new deputy governor of the Bank of Mexico

Mejía Castelazo is the new deputy governor of the Bank of Mexico

The Plenary of the Permanent Commission of the Congress of the Union ratified Omar Mejía Castelazo as deputy governor of the Bank of Mexico (Banxico), until December 31, 2030.

It was with 24 votes in favor, one against and 10 abstentions, that the legislators that are members of the Permanent Commission approved the Executive’s proposal to appoint Omar Mejía Castelazo as a new member of the Governing Board of Banco de México, who enters replacing Gerardo Esquivel.

The day before, during his appearance before commissions, Mejía Castelazo presented his work plan, in which he recognized that the country’s monetary policy faces important challenges.

“In the short term, it needs to address and resolve the inflationary pressures that we are still seeing, as well as ensure that inflation returns to its target within the forecast horizon,” he said.

Likewise, he maintained that his efforts will be focused “on the country recovering its price stability and I will conduct monetary policy in a responsible, efficient, timely and independent manner.”

This Wednesday, during the ratification of the new deputy governor of Banxico, Senator Emilio Álvarez Icaza Longoria (without a parliamentary group) expressed his rejection of the appointment, arguing that in the current context of national and international risk, consolidated trajectories are required and experiences beyond any doubt that, in the government of Banco de México, contribute with certainty and capacity to respond in the best terms to this challenge.

He added that the dynamics of Banco de México, its functions and responsibilities make it necessary to exercise parliamentary control in an exhaustive and rigorous manner, since he warned that the economic context of the country is extremely complicated, which is why it is necessary to assume future challenges, since there is inflation and zero economic growth.

He said that it is necessary to strengthen the autonomy of Banxico, by virtue of ensuring decisions not subordinated to the governments in turn and highlighted the need for the member of the Governing Board to enjoy technical and professional capacity, since the moment that occurs Today in the country and globally, it requires exercising the power of control of the Legislative body in terms of appointments of senior officials, in a responsible and forceful manner.

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