Rogelio Ramirez de la O takes over as the new Treasury Secretary

Rogelio Ramirez de la O will focus on meeting four specific demands of the president: achieving a healthy fiscal balance year after year by 2024; savings in the use of public resources; Balance and improve accounts in the energy sector, and see opportunities in banking development.

Third Secretary of 4T

The Doctor of Economics from Cambridge University will be the third Treasurer of the current government.

Arturo Herrera left to lead the Bank of Mexico (Banxico) next year and his predecessor Carlos Arzua resigned after eight months in office: “In this administration, policy decisions were made without sufficient support,” he wrote in his resignation letter. to the President of the Republic.

“Ramirez de la O is well known in the markets, he is someone the president respects a lot, knows the Mexican economy very well. The markets consider him a plus: his proximity to the private sector in Mexico, and he has worked for many years with large and not so big companies in Mexico.” Gabriel Casillas, President of the National shared For Economic Studies at the Mexican Institute of Financial Executives (IMEF).

President Lopez Obrador had proposed him several times to head the Treasury, in 2006 in the first race for the presidency, he was his economic adviser. In 2012 he will be Treasury Secretary if he wins the votes, in his second attempt to rule the country.

Challenges

Ramirez de la O will be greeted with new and growing needs in the general budget, especially public income from taxes. The CEO’s economic package will bring important changes to increase collection in 2022, announced the head of the Tax Administration Service (SAT), Raquel Poinrostro.

However, these changes, revealed so far by the head of the SAT, will not be enough to boost economic growth and investment in the country, said Angel Lacorin, national president of IMEF, who announced that in the following week they will present a series of proposals on financial matters, other than Those announced by the Federal Administration.

“Today as a country we do not have Comprehensive medium-term recovery growth strategyWithin the Ministry of Finance, one of the primary responsibilities is the strategic planning of the economic development plan, for a recovery that includes all sectors, it seems to me that this was the main thing missing in the management of Herrera,” explained Lacorin.

Another outstanding public financial issue is Discussion about the financial agreement Among the entities, opposition conservatives have threatened to leave this, if the formula is not restructured and the terms of federal public income distribution to states are changed.

You will also encounter a file A potential initiative to cut bank fees and new global taxes on multinational corporations الشركات, in which the new secretary must seek consensus with private initiative and find a balance for public finances.

After the results of the elections on June 6, and the new formation of the Congress, President Morena’s party will have to make alliances with other parties to achieve reforms in economic and financial matters, since an absolute majority is needed for this type of campaign. the changes. While approval of the economic package requires a simple majority.

congratulations

The Bankers Syndicate as well as the Mexican Institute of Financial Managers (IMEF) welcomed Brugelio Ramirez de la O as the new Chief Financial Officer.

“Mexico’s banks recognize the importance of maintaining close contact and cooperation with the financial sector authorities. Therefore, we reiterate our commitment to remain an enduring interlocutor with a social and inclusive mission in building a more prosperous and equitable nation,” the Mexican Association of Banks (ABM) said in a statement.

For its part, IMEF said its votes were in favor of maintaining fiscal discipline and economic policy that encourages high levels of growth, that is sustainable and has an overall impact.

Disqualified

The Treasury confirmed that Arturo Herrera would take charge of the agency until July 15 and sent a farewell message on Twitter.

With information from Luz Elena Marcos