“It ends until December, there’s a long way to go,” said the president when asked if he would re-propose Esquivel for another term at the central bank. “I haven’t decided yet,” he added.
Esquivel joined Banxico’s Governing Board in January 2019, replacing Roberto del Cueto, who left his post for health reasons.
By law, President López Obrador must propose a new member of Banxico’s Board to the Senate or request that Esquivel stay for a new period of eight years, although the Mexican economist has ruled out the latter option.
In August of last year, the politician argued that Esquivel had become a “technocrat” after he said that the Special Drawing Rights (SDR) are not a currency, so it was not possible to pay public debt with them.
“I was seeing that Gerardo Esquivel, who has already become ultra-technocratic, saying ‘what the president proposes cannot be done.’