MEXICO CITY – Mexican President Andres Manuel Lopez Obrador surprised markets on Wednesday by proposing Victoria Rodriguez, a deputy finance minister, as the next governor of the central bank after dropping the previous nominee, his former finance minister.
Rodriguez would be the bank’s first female governor.
The turn of events rattled investors wary of politicization of the monetary authority, whose governor has straddled the terms of presidents from rival administrations in the past.
Here are a few facts about Rodriguez:
* She has extensive financial experience, mainly in the areas of public budget and debt management, according to a short bio shared by the finance ministry’s press office.
* She holds a degree in economics from the prestigious Tec de Monterrey (ITESM) university and a master’s degree in economics from the Colegio de Mexico.
* So far, Rodriguez, who would be the fifth governor since the bank became independent in 1994, has kept a low profile, making few public appearances and declining interview requests.
* She was deputy finance minister under then-Mexico City Mayor Miguel Ángel Mancera from 2012 to 2018.
* Rodriguez also served as a finance and budget official with the Mexico City government between 2009 and 2011, in addition to a previous post heading finances for the capital’s subway system.
* Former Finance Minister Arturo Herrera’s predecessor Carlos Urzua had in 2018 nominated Rodriguez https://www.reuters.com/article/uk-mexico-economy-rodriguez-exclusive-idUKKCN1NW06B as his deputy responsible for public spending.
* Initially, she had been tapped to serve as director of the finance ministry’s budget control unit, a less senior post, but moved up after Gerardo Esquivel was picked to serve on the central bank’s board.
* If ratified by the Senate, Rodriguez will take charge with annual inflation at 7.05% for the first half of November, after already having risen steadily this year beyond the bank’s 3% target.
* Following the news of Lopez Obrador’s change of mind, Mexico’s peso further weakened against the dollar on Wednesday, hitting an eight-month low.
(Reporting by Stefanie Eschenbacher and Sharay Angulo; Editing by Bernadette Baum)