Mexican finance minister quits after clash with president
Peso recovers earlier losses after President Lopez Obrador names Arturo Herrera as replacement
09 July 2019 - 20:44
Mexico City — Arturo Herrera was nominated as Mexico’s finance minister after Carlos Urzúa abruptly quit over policy differences in the first major cabinet resignation for President Andres Manuel Lopez Obrador. The nation’s currency and stocks tumbled.
The peso lost as much 2.3% following the announcement of Urzúa’s resignation, only to pare its loss after AMLO, as the leftist president is known, said Herrera, the finance undersecretary, is his choice for successor. It fell 1.4% to 19.1878/$ at 12.26pm in Mexico City...
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