Mexican Finance Minister Quits to Seek Presidency

The Wall Street Journal, 9/9/11


Mexican Finance Minister Ernesto Cordero stepped down Friday after 21 months in the job to seek the ruling party’s candidacy for next year’s presidential election. He will be succeeded by current Energy Minister José Antonio Meade.

President Felipe Calderón said in a statement that Mr. Cordero had expressed his wish to leave some time ago, but stayed on at the Finance Ministry to prepare the 2012 budget proposal, which was submitted to Congress on Thursday.

Mr. Meade, a former deputy finance minister who has degrees in economics and law, is considered by analysts to be an ideal replacement for Mr. Cordero. The administration is preparing to negotiate next year’s budget in Congress, where some opposition members have been calling for greater transfers to state governments.

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