AMLO Hits Turbulence as Finance Chief’s Exit Sends Shock Waves
- Finance Minister Urzua leaves, decrying conflicts of interest
- Peso pared loss following nomination of Herrera as succesor
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The decision by a top adviser to the Mexican president to resign while denouncing conflicts of interest in the government stunned the nation and its financial markets.
Finance Minister Carlos Urzua’s abrupt decision to quit on Tuesday was the first major cabinet loss since Andres Manuel Lopez Obrador took office in December. The scorching tone of his resignation letter, from a public official known for extreme politeness and addressed to a president who made fighting corruption his central campaign issue, made the departure all the more surprising.