Mexico’s president appoints first woman to lead central bank

Mexican President Andrés Manuel López Obrador on Wednesday nominated the first woman to serve as governor of Mexico’s central bank.

As Forbes Mexico reported, López Obrador chose Mexican Deputy Finance Minister Victoria Rodríguez Ceja to be in charge of the Bank of Mexico, or Banxico.

“We want women to participate. We want this change to take place recognizing the work done by the Undersecretary of Expenditures. She has been performing very well. With an exemplary performance,” López Obrador said in translated remarks.

“She is in charge of managing public investments and has acted very responsibly and does not spend for the sake of spending. She is responsible for financial stability and not resorting to debt. She is a good public servant. For the first time a woman will head Banxico,” he added.

⚠️Alerta.- Victoria Rodríguez Ceja será propuesta por el presidente López Obrador como próxima Gobernadora del Banco de México. pic.twitter.com/Q93TaYZzea

— Carlos Mota (@SOYCarlosMota) November 24, 2021

López Obrador’s decision to nominate Rodríguez Ceja comes after he retracted his original nomination of Finance Minister Arturo Herrera to head the central bank. López Obrador did not explain why he decided against nominating Herrera but specified that he had done nothing wrong.

Rodríguez Ceja must still be approved by Mexico’s Senate before assuming the position. Her nomination comes as the Mexican peso has recently performed worse than other Latin American currencies and as inflation in Mexico increases more quickly than initially anticipated.

If she is confirmed, Rodríguez Ceja would begin in 2022, after the term of the incumbent bank governor, Alejandro Díaz de León, expires at the end of this year.