8chan/8kun QResearch Posts (3)
#6972139 at 2019-07-09 22:18:40 (UTC+1)
Q Research General #8920: Hunters No More Edition
Mexican Finance Chief Steps Down Over Differences on Economic Policies
The Mexican treasury secretary, Carlos Urzua, stood down on Tuesday over conflicting views on economic policies and will be succeeded by his deputy.
"There have been numerous discrepancies over economic matters. Some of them because this administration made public policy decisions without sufficient support," Urzua said.
Urzua noted in an open letter to President Andres Manuel Lopez Obrador that economic policies should be "free of all extremism, whether it may come from the right or from the left."
He added that his resignation was also a response to "interference" by influential members of the government who forced him to appoint ministry officials who did not have sufficient knowledge of finances.
Acepté la renuncia de Carlos Urzúa, secretario de Hacienda y para sustituirlo he nombrado al subsecretario Arturo Herrera Gutiérrez, quien es un profesional en Economía, con virtudes de humanismo y honestidad. Es de toda mi confianza. pic.twitter.com/Qmhj4DF20v
- Andrés Manuel (@lopezobrador_) July 9, 2019
The president tweeted that he had accepted the resignation and named finance undersecretary Arturo Herrera as Urzua's replacement.
https://sputniknews.com/latam/201907101076199537-mexico-finance-chief-steps-down-differences-economic-policies/
#6968346 at 2019-07-09 17:47:48 (UTC+1)
Q Research General #8915: Israeli intelligence - stand down Edition
Mexico Peso Falls as Investors Fret Over Finance Minister's Exit
The Mexican peso plunged by the most since a tariff standoff with the U.S. in late May after Finance Minister Carlos Urzua abruptly resigned, casting doubt on the government's ability to stave off economic and financial challenges.
Urzua announced his decision on Twitter, citing conflicts of interest and policy disagreements within Andres Manuel Lopez Obrador's administration. The peso fell by as much as 2.3%, before trimming losses when Arturo Herrera, the deputy finance minister, was named as Urzua's replacement. The iShares MSCI Mexico ETF tumbled and the yield on the nation's dollar bonds due in 2026 rose to 3.7%.
"This is a very bad sign," said Benito Berber, the chief economist at Natixis in New York. Still, Berber said Herrera will help calm markets and offer some continuity: "Urzua and Herrera gave credibility to economic policy."
https://www.bloomberg.com/news/articles/2019-07-09/mexican-peso-tumbles-2-as-finance-minister-abruptly-resigns
#5187452 at 2019-02-15 13:40:10 (UTC+1)
Q Research General #6627: McCabe 23 Skidoo Edition
Mexico to pump $3.6 billion into ailing oil firm Pemex in relief plan
MEXICO CITY (Reuters) - Mexico's government will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes paid, company officials said on Friday, a move aimed at improving the firm's balance sheet and preventing a further downgrade to its credit rating.
Formally known as Petroleos Mexicanos, the firm holds roughly $106 billion in financial debt, the highest of any national oil company in Latin America.
Pemex will receive $1.8 billion in pension liability monetization as part of the new fiscal assistance plan for company, officials said, but the Mexican government will not take on new debt for Pemex.
Mexico's finance minister Carlos Urzua said if Pemex requires more capital injection, the government will provide it. The capital injection will allow debt refinancing over the course of this year, he said.
Rating agency Fitch downgraded debt issued by Pemex by two steps last month, leaving it just barely within its investment grade category.
The move weakened Mexico's peso currency and stoked fears that further downgrades by Fitch or other credit ratings agencies could significantly raise the oil company's financing costs and result in dire fiscal consequences for the government.
Mexico's peso currency was down 0.5 percent against the U.S. dollar on Friday.