Economics
Mexico Central Bank Rebuffs AMLO Request for Surplus Fund
- Banxico, president discuss surplus after peso depreciation
- Lopez Obrador had said he’d seek an advance on FX surplus
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Mexican President Andres Manuel Lopez Obrador met central bank Governor Alejandro Diaz de Leon to ask for an advance on the bank’s exchange-rate surplus. He returned empty-handed, for now.
In a statement, Banxico said that both Lopez Obrador and Diaz de Leon discussed the importance of following the existing procedure and timing regarding the surplus as laid out in the central bank’s own regulations.