Mexican Finance Secretary Rogelio Ramírez de la O, a remnant of the previous administration, resigned for personal reasons and will be replaced by his deputy
Mexico City – The Mexican Finance Secretary Rogelio Ramírez de la O, a remnant of the previous administration, resigned on Friday for personal reasons and will be replaced by his attachment, president Claudia Sheinbaum said.
In a video posted in X, Sheinbaum said Ramírez de la O would serve as an economic advisor in international matters.
The economist had served as Secretary of Finance since July 2021, when he was appointed by then President Andrés Manuel López Obrador amid the economic agitation caused by the Covid-19 pandemic.
Sheinbaum called Edgar Amador Zamora, number two of Ramírez de la O, to replace him.
When Sheinbaum won the elections in June, Ramírez de la O agreed to stay for a period to guarantee a transition without problems. His work was largely seen to calm international markets after the weight initially fell after Sheinbaum’s electoral victory.
But he also faced an urgent need to reduce Mexico’s debt and restore fiscal discipline after López Obrador spent a lot on his signature projects and expanded the expensive social programs.
Friday’s announcement occurred during a tumultuous period in the bilateral relationship between Mexico and the United States during which the president of the United States, Donald Trump, has threatened twice and twice retired from imposing severe tariffs In all Mexican imports, stimulating economic uncertainty on both sides of the border.
