It's time to take a different path

The President has constantly condemned “neoliberal policies”

It's time to take a different path
The Finance Minister, Carlos Urzúa, resigned yesterday - Photo: Carlos Mejía/EL UNIVERSAL
English 10/07/2019 09:23 Mexico City Editorial Actualizada 09:31
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A year ago, when Andrés Manuel López Obrador won the election, it was expected that when he took office, he would take a different path in regards to the economy, at the expense of the economic model that prevailed in the last decades. The implementation of a new strategy was confirmed on December 1, when he constantly condemned the “neoliberal policies” during his speech.

In the last 7 months, President López Obrador has insisted that his administration is really trying to transform the country. In reality, the President inherited a country plagued by violence and that did not present important growth levels. Nevertheless, the economic policies implemented by his government haven't improved Mexico's prospects.

Under these premises, the differences between high-ranking officials and the ambitious government plan have pushed the officials to resign. Yesterday, Carlos Urzúa, the former Finance, and Public Expenditure Minister is the most important loss inside the President's cabinet until now and it also represents bad news for Mexico.

Less than a year since the new government took office, Urzúa's resignation is the most alarming one because it reinforces the signals that show that the national economy has stagnated.

The reasons behind Urzúa's resignation should be carefully assessed because they are serious accusations. If it is true that the administration has made decisions without having enough evidence, President López Obrador and his team can change the country's path in order to face the international economic context with more strength.

The extreme austerity and control measures reported by several public servants are alarming because, as a result, productive activities come to a halt. The excessive control of public expenditures, as well as the deficit in private investment, have affected the Mexican economy.

The Finance Ministry demands officials with an exceptional technical level. Therefore, in line with the President's desire to change the country, the claims made by Carlos Urzúa should be analyzed, especially since he claimed there were possible conflicts of interest inside the government cabinet.

The current administration should pay attention to internal and external signs so that Mexico is not economically affected in the short and medium term. President López Obrador has the opportunity to continue with his transformation plan, as long as he is accompanied by the right officials and as long as he acknowledges the economic reality of the country. The challenge is huge but we still have time.


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