New central bank governor for Mexico?

Rumours are circulating that Mexico’s centre-right president wants a new central bank governor.

The speculation has gone down badly with bankers, who respect the incumbent, Guillermo Ortiz, and want him to remain in office while the country struggles with recession. Mr Ortiz, identified more with the opposition party, also chairs the board of the Bank for International Settlements, the central bank for central banks.

Should Mr Ortiz exit his post, the likely replacement is Agustín Carstens, Mexican finance minister. Such a move would leave a gaping hole at the finance ministry.

Legislators are urging the president to decide. Timing is all important in this debate: a decision before December 15 could favour the government; a decision afterwards could favour the opposition.

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