Bank of Mexico rejects president’s request for early funds transfer

Mexican president Lopez Obrador meets governor Diaz de Leon
Bank of Mexico governor Alejandro Díaz de León (centre) meets president López Obrador (right)

The Bank of Mexico has rejected a request from the country’s president to advance transfers to the executive to finance measures against Covid-19.

The central bank issued a rare statement on April 16, following a meeting between López Obrador and governor Alejandro Díaz de León. It stressed “the importance of observing the procedure and timing” related to its annual transfers to the government, which are regulated in Mexico’s central bank law.

In a press conference earlier that day, president

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