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Victoria Rodriguez, Banxico. why would not meet one of the requirements to become governor of

U.S.A.Victoria Rodriguez, Banxico. why would not meet one...

According to experts, experience in monetary policy is a must for those who aspire to rule in Bankico (Photo: Cuartoscuro / EFE)

This Wednesday, President Andres Manuel Lopez Obrador announced that Victoria Rodriguez Seja, proposed to take over the post of Expenditure Secretary, Ministry of Finance and Public Debt (SHCP) Governor of the Bank of Mexico (Banxico).

The change in the President‘s decision, taking into account that he had previously made public the candidacy of former Secretary Arturo Herrera, is due to the necessity of more women’s participation in their governmentHe made the announcement at a morning press conference.

However, economic and financial affairs experts were dissatisfied with the news, as they indicated that The professional profile of a government official does not meet the requirements established in the Banxico Regulations.

Thus, the law establishes that applicants must be members of the governing board of the Banco de Mexico. Mexican citizens by birth and under 65 years of age at the time of holding office. necessary has recognized competence in monetary matters and has been occupied for at least five years, Senior Position in the Mexican Financial System or in any financial authority.

Experts on economic and financial issues were dissatisfied with the news, as they pointed out that the professional profile of a government official did not meet the requirements established in the Banksico regulations (Photo: Twitter @valeriamoy)
Experts on economic and financial issues were dissatisfied with the news, as they pointed out that the professional profile of a government official did not meet the requirements established in the Banksico regulations (Photo: Twitter @valeriamoy)

In contrast, Rodriguez Cézanne He seems to have no experience in managing monetary policy. As for his career, the economist graduated from Tecnológico de Monterrey (ITESM), a specialist in this field. Public finance in budgetary, financial and credit matters,

He was Under Secretary of Expenditure for the Government of Mexico City during the administration of Miguel Angel Mancera and was part of the team of the former Secretary of the Treasury, Carlos Urzua 18 years ago, when Andres Manuel López Obrador, head of government of the capital.

She was also an advisor to the Secretary of Finance, Director of Credit at the Ministry of Finance of the Government of Mexico City, and Director of Finance at CDMX Metro.

Rodriguez Ceja was proposed as the head of the Finance Budget Control Unit in the incoming López Obrador government. However, she later became the Under Secretary of Expenditure, Ministry of Finance.

You have a task in the situation Design spending for López Obrador’s social events, who are one of the central axes of his government,

Economic journalist Rodrigo Pacheco also spoke about this (Photo: Twitter @roadpack)
Economic journalist Rodrigo Pacheco also spoke about this (Photo: Twitter @roadpack)

It is important to mention that the main objective of Banxico is “To ensure the stability of the purchasing power of the national currency”, as well as “promoting the healthy development of the financial system and promoting the proper functioning of payment systems.” For this the economist Valeria Moy mentions, it is necessary that the governor Know the Financial Markets understand more global capital movement and its interrelationship with the real economy.

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In addition, in a column for Country, the expert pointed out that it is necessary that the management of the central bank Fiscal policy is different from, mainly to prevent the former from meeting the economic needs of the other. “In a context in which the central bank was dependent on the executive, Will lend itself to a monetary authority seen as a financial instrument“, he pointed out.

Governing Board is made up of five membersOf these, four are deputy governors and one governor. the latter is appointed by the President of the Republic, with the approval of the Senate, and shall be in charge of leading the body for a term of six years.

Victoria Rodriguez Seja, Undersecretary of Egres, Ministry of Finance and Public Debt (Photo: Daniel Augusto / Cuartoscuro)
Victoria Rodriguez Seja, Undersecretary of Egres, Ministry of Finance and Public Debt (Photo: Daniel Augusto / Cuartoscuro)

and that, according to National Institute of Statistics and Geography (Ingi), reached at the National Consumer Price Index (INPC) 7.05% in the first half of November compared to 6.36% in the second half of October. This is its highest record since April 2001.

in this contextIt is important that the person leading Banxico is the one who ensures the proper conduct of Mexico’s monetary policy, to ensure the stability of the purchasing power of the national currency.

It should be noted that the change of candidate to presidency of Banco de Mexico, according to some analysts, led to devaluation of the national currency, “With the announcement by Victoria Rodriguez for Banxico, the exchange market reacts. I certainly don’t like it,” said mathematician Luis Gonzali.

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