President Claudia Sheinbaum has not announced who could replace Espinosa, but since she was a presidential candidate, she opted for a female profile. Espinosa’s term ends on December 31, so it is expected that someone else will be appointed before that date.
Adrián de la Garza, chief economist at Cemex and former researcher at Banxico, said in an interview that it is regrettable that a profile like that of Irene Espinosa – with the greatest experience within the Government Board – leaves due to her “excellent reputation.” “.
“She is very recognized, she has an excellent reputation in the private sector in general, among investors, etc. I regret that a member with experience and an excellent reputation within the world of central banking in Mexico potentially will not be ratified by the president,” he said. the economist.
But since President Sheinbaum has not put its ratification on the table, the specialists hope to see two signs in the profile of whoever succeeds him: experience within the central bank and independence from the government.
“I think that a member that is needed is someone who has had experience in the Bank of Mexico, from within, because not all the debates are about monetary policy and interest rates, there are many central banking debates that when someone works at the Bank Mexico breathes many of these debates and investigates in depth, for example, what is the optimal level of international reserves,” said Gabriel Casillas, another former Banxico researcher and chief economist at Barclays.
Experience in central banking is a profile that has been lacking in recent nominations: Galia Borja, Victoria Rodríguez and Omar Mejía have had previous experience in second-tier positions in the Treasury or in the government of Mexico City.
“Obviously they have very relevant experiences in their acts of action, in the sectors where they participated before, and that is always very welcome, but curiously, there are none of the current members who have that previous experience in central banking,” said de la Garza. .
With the departure of Irene Espinosa, the entire Governing Board of Banco de México will be made up of profiles proposed under Morena’s mandate.
