Biva asks to preserve the autonomy of Banxico before the nomination of Victoria Rodríguez

María Ariza, general director of the Institutional Stock Exchange (Biva), highlighted the importance of Banco de México (Banxico) continues to maintain its autonomy, after President Andrés Manuel López Obrador proposed Victoria Rodríguez Ceja, current Undersecretary of Expenditures of the Ministry of Finance, as the next governor of the central bank.

“I am sure there will be a very pertinent and very professional job on your part. We trust that the autonomy of the Bank of Mexico will remain, that is fundamental for our country ”, said the general director of Biva in a virtual conference on the occasion of the inaugural issuance of social bonds by Banco Compartamos, for 2,500 million pesos.

Along the same lines, he commented that if Victoria Rodríguez is ratified by the Senate of the Republic, as the next governor of the central bank, she will have a very strong challenge in the face of the rebound in inflation that has been registered.

Let’s give the benefit of the doubt to this appointment, I believe that Victoria Rodríguez’s public career is remarkable and we believe that the Banxico Governing Board has a relevant role as a whole. There is a lot of experience in this board in general and between all of them they have a very relevant role in the face of the inflation that we are seeing, which is practically annualized at 18 percent, as pointed out by Deputy Governor Jonathan Heath ”, he added.

Although María Ariza also highlighted that unexpected announcements, like this one, tend to cause “noise and uncertainty” in the market, however, she considered that these types of decisions are a priority for the current federal government.

In this, Patricio Diez de Bonilla, general director of Compartamos Banco, agreed when indicating, in the same event, that the “benefit of the doubt” should be granted to the proposal for the appointment of the next governor of Banxico.

“The reality is that you have to give him the benefit of the doubt, he is a person with whom we have not had personal contact, but changes in signals tend to generate uncertainty and volatility in the markets, as we are seeing”, commented the CEO of Compartamos Banco.

This Wednesday, after the announcement, the session in the Mexican stock exchanges were volatile, ending the negotiations with a 0.47% decline for the Institutional Stock Exchange (FTSE-Biva) index and with a 0.55% decline for the S & P / BMV IPC, the stock index of the Mexican Stock Exchange.

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