President Andrés Manuel López Obrador ruled on Thursday that his administration had prepared an alternative in case the Senate did not approve the nomination of Victoria Rodriguez Ceja as Governor of the Bank of Mexico (Banxico).
“There is no Plan B because (the senators) will approve it. It would be nonsense, it would be to act in bad faith and most of the senators are responsible people, “he said at his Zacatecas press conference.
The President stressed that the current Secretary of Expenditure in the Ministry of Finance fulfills the profile required for the central bank’s governorship.
“She handles the whole budget, we’re talking about 6 billion pesos, who have to maintain the balance, who have to stick to what’s authorized in the budget in Congress, so you can not spend more than what’s authorized. How can you not have experience?“, he remarked.
Rodríguez Ceja thanked the president for his nomination for Banxico and assured that one of his main tasks will be to fight inflation (which in November reached its highest level in 20 years) and observe the independence of the central bank.
What requirements must Rodríguez Ceja meet to become governor of Banxico?
According to the central bank’s organic law, Article 39 sets out the three necessary requirements to be able to belong to the Board:
The first condition mentioned in the law is that the candidate must be a Mexican citizen and must not be over 65 years of age from the start date of the period during which they will hold the post.
The second requirement prescribes that the person must have occupied senior positions in the Mexican financial system for at least five years, and have recognized monetary competence.
Finally, the third requirement is not to have a penalty for any crime and not to have been removed from any post on the board, unless this was due to a physical disability that has already been overcome.