The Senate endorses Rodríguez Ceja as the next governor of the Bank of Mexico

Mexico City, Dec 2 (EFE) .- The Senate approved this Thursday the appointment of Victoria Rodríguez Ceja as a member of the Governing Board of Banco de México, who will become the first female governor of the Mexican central bank.

With 78 votes in favor, 21 against and 10 abstentions, the Upper House endorsed the appointment proposed by the Mexican president, Andrés Manuel López Obrador, and later Rodríguez Ceja took the oath of the new position.

On December 31, the term of the governor of the Bank of Mexico, Alejandro Díaz de León, nominated by Enrique Peña Nieto and in office since 2017, will conclude, who will be succeeded by Rodríguez Ceja.

López Obrador withdrew by surprise the candidacy of his former Secretary of the Treasury Arturo Herrera for governor of the Bank of Mexico and last week nominated Rodríguez Ceja, until now Undersecretary of Expenditure on the Treasury.

His nomination was criticized by opposition senators who affirmed that he lacks “recognized competence in monetary matters”, as required by the Bank of Mexico Law.

Given this, the undersecretary argued that her “professional experience is closely linked to macroeconomic knowledge and intense practice in the fiscal, financial and monetary field.”

He also pledged “unrestricted respect for the autonomy of the Bank of Mexico.”

With the candidacy of Rodríguez Ceja, López Obrador will have proposed two men and two women out of a total of five members that make up the Banxico Governing Board: Jonathan Heath, Gerardo Esquivel and Galia Borja.

The Bank of Mexico has the task of facing the high inflation that in the first half of November reached 7.05%, the highest level in 20 years, when the central bank’s goal is 3%.

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