AMLO appoints new Economy Minister after surprise resignation in Mexico

Mexico’s new Economy Minister Raquel Buenrostro. Photo: Gobierno de México

Raquel Buenrostro took over as Mexico’s new Economy Minister today following yesterday’s surprise resignation of Tatiana Clouthier from President Andrés Manuel ‘AMLO’ López Obrador’s cabinet.

The reasons behind the resignation are still uncertain. On Twitter, Ms. Clouthier’s brother and former Congressman Manuel Clouthier Carillo said that, in his opinion, the minister’s call to step down was based on Mr. Obrador’s recent moves to hand control of the Mexican National Guard over to the country’s military, something that spawned a nationwide political crisis, as The Brazilian Report recently explained

Reuters, meanwhile, reported that the resignation could be linked to previous quarrels between the former Economy Minister and the head of state regarding energy policy discussions with the U.S and Canada.

Ms. Clouthier, a key figure in negotiations with Mexico’s North American partners, already indicated last July that she was considering resignation due to disagreements with AMLO, who favors a stronger state role in the energy sector, an approach that has led to clashes with the U.S.

That issue was on the agenda again this week, as Ms. Clouthier hailed dialogue with its northern neighbor as “productive,” looking to avoid a legal clash between the sides that could lead to sanctions. The countries extended the deadline for energy talks after the meeting.

Regardless of the reasons for her exit, some fear Ms. Clouthier’s decision could impact energy discussions, with Mexico left without one of its most important negotiators. 

Her replacement, Ms. Buenrostro, was praised by AMLO during his Friday press conference for her “great work” as Mexico’s tax authority chief.

Markets were largely unaffected by the news, with the Mexican Peso and local stocks mostly moving sideways during the last two trading sessions despite the changes.