By THE PULSE NEWS MEXICO STAFF Mexican Finance and Public Credit (SHCP, or Hacienda) Secretary Arturo Herrera Gutiérrez was nominated by President Andrés Manuel López Obrador (AMLO) on Wednesday, June 9, to assume the role of governor of the Bank of Mexico (Banxico), replacing the bank’s current head, Alejandro Díaz de León. Herrera must now be approved by the Mexican
Read more
By KELIN DILLON Considerable controversy has arisen in Mexico over the Senate’s approval of reforms to the Bank of Mexico (Banxico), known as the Monreal Law, named after Senator Ricardo Monreal, who drafted the bill. Now, Secretary of Finance and Public Credit (SHCP) Arturo Herrera Gutiérrez has announced a postponement of these reforms until February 2021. “Clearly, very important implications
Read more
By RICARDO CASTILLO Businesses Hit the Outsourcing Panic Button The start of an Open Parliament to discuss Mexican President Andrés Manuel López Obrador’s (AMLO) proposed reform of outsourcing practices forced the leading business organization representatives to call for an emergency meeting with him that very same day. The president received the businessmen at the National Palace. Given the positioning of
Read more
By KYLIE MADRY Mexican President Andrés Manuel López Obrador (AMLO) has long been disliked by members of the opposition parties, who formed the country’s ruling class until AMLO and his National Regeneration Movement (Morena) took power. That distaste is turning into open revolt, as the president faces threats from the rightwing National Anti-AMLO Front (Frena), the newly formed Sí por
Read more
By RICARDO CASTILLO USMCA Is a Done Deal Happiness is a good trade deal. And a great Christmas gift for Mexican President Andrés Manuel López Obrador (AMLO) since it affords the country a potentially secure economic future once all of the minor hurdles have been cleared. The passage of the United States-Mexico-Canada Agreement (USMCA, or T-MEC, in Spanish), which was finally
Read more
By RICARDO CASTILLO Definitely the outstanding image in Mexico for the week July 8-12 was the stone-cold face of Arturo Herrera Gutiérrez as President Andrés Manuel López Obrador appointed him the government’s new finance secretary. Herrera Gutiérrez looked as if he was attending his own funeral. The fact is that a lot of political pundits noticed the grave gesture, that
Read more
By RICARDO CASTILLO It was a political rock rattle and roll in the Mexican government Tuesday, July 9, when, over the course of just one hour one Treasury Secretary resigned and a new one was appointed by President Andrés Manuel López Obrador (AMLO). To offer a proper sequence of events, allow me to start from the beginning of the series
Read more