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

Central bank issues rare statement saying it must respect legal procedure for transferring funds

Mexican president López Obrador (right) meets governor Díaz de León
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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