Victoria Rodriguez, Undersecretary of Finance and Public Credit (SHCP), He appeared last Wednesday, December 1 before the Senate of the Republic to be appointed governor of the Bank of Mexico (Banxico). The above, after the president Andrés Manuel López Obrador will change your decision to choose Arturo Herrera for this important position and propose to the economist of the Tecnológico de Monterrey.
However, public opinion did not receive the new candidate from Tabasco in a good way, as some characters questioned his experience in monetary matters, one of the main requirements to head the Banxico Governing Board.
In this regard, Rodríguez Ceja assured that his trajectory in budgetary matters, fiscal, as well as in financial procedures have given him tools to handle other areas of the monetary panorama of the country.
Thus, he explained that “the design of the public budget should always be done with the best possible knowledge of the monetary position domestic and international”.
“Performance in fiscal matters and financial procedures requires a high capacity in monetary matters. In the first place, the government of Mexico is one of the most relevant agents in the loanable funds market, since it can affect the position of both supply and demand in said market. In this sense, It is one of the agents that most influences the determination of the interest rate in the medium and long term of any economy, so the design of the public budget should always be carried out with the greatest possible knowledge of the domestic and international monetary position, because changes in tax expenditures may affect pricings of the financial markets ”, he specified.
On the other hand, he pointed out that the budgeting process must contemplate the determination of interest rates. “My experience has been intrinsically linked to the coordination of fiscal policies and, therefore, for what I explain, monetary policies of the country,” added the official.
“There is a strong relationship with the determination of interest rates, because the financial cost of the debt is a function of fixing them both nationally and internationally, which is one of the components of spending, for what this variable and its effects on public spending have to be considered in the budgeting process “
However, some journalists, politicians and experts mentioned that Rodríguez Ceja answered evasively The questions of legislators, incliso, criticized that he read everything referred to in his appearance.
“Victoria Rodríguez finished answering all the questions. Bottom line: it does meet the requirements; It will not violate the @Banxico law on international reserves and will be a defender of its autonomy…. To the technical questions, he did not answer with concrete proposals“Commented the communicator Leticia Robles de la Rosa.
It is important to mention that a few hours ago the project in which the Upper House designates Victoria Rodríguez Ceja as the next governor of Banco de México was revealed. The document is dated December 2, 2021, so it is expected that his appointment will be made official this Thursday.
As expected, the bench of National Regeneration Movement (Brunette) in the Senate of the Republic was in favor of the opinion that outlines the teacher Rodriguez Ceja as the first governor of Banxico; in contrast, the so-called parliamentary opposition condemned the candidacy and expressed their rejection.
Gustavo Madero Muñoz, militant of National Action Party (PAN) and member of the Plural Parliamentary Group (IT DOES NOT MATTER), said that the best thing for Rodríguez Ceja would be for him to arrive in Banxico and remain as deputy governor while gaining three years of experience to be governor. And that the head of the federal executive choose a new governor from among the current deputy governors.
On your own, Martha Cecilia Marquez, also from the blue and white, said that the teacher Rodríguez does not meet the requirements of the law to be governor of the central bank.