Economics
Mexico Adds Political Infighting to Factors Weighing on the Peso
- Currency tumbled as much as 2.3% after finance minister’s exit
- Resignation adds to concern over Pemex debt, potential tariffs
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The surprise departure of Mexico’s finance minister Tuesday and his scathing resignation letter added another item to the list of risks that are keeping the peso weak and interest rates high.
Finance Minister Carlos Urzua cited disagreements over policy and unsound decision making for his exit, sending the peso as much as 2.3% lower on concern President Andres Manuel Lopez Obrador, known as AMLO, may now shift policy to the left.