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López Obrador admits that he violated the law of the Bank of Mexico

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President Andrés Manuel López Obrador admitted that he violated the law of the Bank of Mexico, when on the eve he advanced information that only that credit institution was responsible for disseminating.

The president received strong criticism after informing that the Mexican central bank would raise interest rates to 6.5% during his morning press conference because, according to analysts, his actions could call into question the institution’s autonomy.

López Obrador apologized in the afternoon and on Friday assured that he learned of the Bank of Mexico’s decision because his Secretary of the Treasury, Rogelio Ramírez de la O, gave him the information.

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According to him, it was a matter of confusion because when talking to the media he thought that the measure had already been officially announced by the bank.

The most important thing of all is that the autonomy of Banco de México is really respected, and we are doing that”, he expressed.

Later, a journalist asked him if by anticipating the official announcement he violated the law of the monetary organization and he said yes. “The law of the Bank of Mexico, but because the Ministry of Finance is part of the Council of the Bank of Mexico and they informed me, and I made this result known”.

The law of the Bank of Mexico contemplates that those who attend the sessions of the central bank “must maintain confidentiality regarding the matters that are discussed in them, unless expressly authorized by the Governing Board to make any communication.”

The president calledcorrupt technocrats” to those who criticized his action and affirmed that many of them did not say anything when acts of corruption were committed in previous governments. Throughout his administration, López Obrador has frequently alluded to alleged corruption and the actions of previous governments to defend himself against those who criticize him.

After the controversy on Thursday, the director of Economic Analysis of the local financial group Banco Base, Gabriela Siller, indicated that if a similar situation of leaking information by the government is repeated, “it would significantly reduce the confidence that exists in Mexico, since one of the pillars of confidence is precisely the autonomy of the central bank”.

On Thursday, López Obrador apologized to the Governor of the Bank of Mexico, Victoria Rodríguez, who until last year served as Undersecretary of Expenditures of the Ministry of Finance before assuming the new position in January.

Source: Gestion

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