Carstens to Banxico, Cordero Becomes FinMin

Carstens to Banxico, Cordero Becomes FinMin

Mexico

Mexican president Felipe Calderon has nominated finance minister Agustin Carstens to lead the central bank, replacing Guillermo Ortiz who ends a second 6-year term this year. Social development minister Ernesto Cordero will take over from Carstens. Some investors described the move as political, since Cordero is one of the closest advisors of the inner-circle of the president. “Cordero is not the best option for the FinMin post; he is a PAN loyalist with strong links to industry and will be a le

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