In 10 or 15 days AMLO will define whether it ratifies Esquivel as sub-governor of Banxico

The decision on the future of Gerardo Esquivel as deputy governor of the Bank of Mexico (Banxico) will be defined in a period of 10 to 15 days. This is what President Andrés Manuel López Obrador said in his morning conference.

“The Bank of Mexico has not yet been decided. The Secretary of the Treasury is seeing that (…) there is still time for it to be defined, since the position ends on December 31,” said the federal president.

As marked by the Law of the Bank of Mexico in article 41, “in the event of a vacancy in the position of governor or deputy governor, the federal Executive may appoint or designate a new member.” And in article 40 of the same regulations, they define that the position of the deputy governor It is of eight years, that its period begins on January 1 of the fourth calendar year of the period of the President of the Republic so that they are staggered, succeeding each other every two years.

Esquivel has been on Banxico’s Governing Board for four years, filling the position he left vacant Roberto del Cueto resigning in 2018.

“The members who fill vacancies that occur before the end of the respective period will last in their position only for the time that the replaced one will have to perform,” says article 41 of the Bank of Mexico Law. But it can be ratified.

Banxico is respectful

On the proximity of the term in the position of sub-governor Esquivel, the governor of Bank of MexicoVictoria Rodríguez Ceja, commented that the central bank is “respectful of the perimeter and institutional times.”

While the same sub-governor Esquivel pointed out that “it is the prerogative of the president” to ratify or nominate another person.

At a press conference to present the Quarterly Report, Esquivel assured that he has not seen the president since he proposed to him to be a member of the Governing Board of Banco de Méxicofour years ago.

It is a decision that the president makes, it is his prerogative over the decision to ratify or not my person or propose someone different, he emphasized.

And he stressed that if it is not ratified in Banco de México, his alternative would be to return to academia and to space them out from public opinion and the debate of ideas.

On November 21, after learning that Esquivel lost in the race for the presidency of the Inter-American Development Bank (BID), the Mexican president announced that he was seeking a government position for the official.

And he added he wanted to “explore other possibilities with Esquivel to place him in the government itself or in representations of Mexico abroad.”

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