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MEXICO CITY, May 21 (Reuters) – Mexico President Andres Manuel Lopez Obrador said on Friday that he will not propose a new term for the current central bank governor and will instead nominate an economist with “social dimension.”
Central Bank governor Alejandro Diaz de Leon’s current mandate at the helm of the bank concludes on Dec. 31.
Lopez Obrador, speaking at his regular news conference, said Diaz de Leon’s term will be “over” and he will nominate a “prestigious” economist for the post.
“It will be an economist with a social dimension, very in favor of moral economics,” Lopez Obrador said.
Mexico’s peso weakened extended losses to 0.4% after Lopez Obrador’s comments.
Lopez Obrador’s proposed head of the bank must be approved by Mexico’s Senate. (Reporting by Cassandra Garrison and Raul Cortes; Editing by Frank Jack Daniel)
