Musical chairs in Mexico

The Mexican president has named finance minister Agustín Carstens as the next central bank governor. Ernesto Cordero, who until this week headed Sedesol, the country’s social development ministry, will take over from Mr Carstens. Insiders say that the move also allowed Mr Calderón to install another confidante in a key ministry – an emerging pattern not lost on political analysts – in the form of Mr Cordero. 

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