Cash-buying law puts Mexico cenbank autonomy at risk, governor says

By Chuck Mikolajczak Posted on December 10, 2020

Mexico’s Central Bank Governor Alejandro Diaz de Leon Carrillo speaks during the presentation of the national financial inclusion policy, in the Interactive Museum of Economics (MIDE) in Mexico City

MEXICO CITY (Reuters) – A law approved by the Mexican Senate that would make the central bank buy up cash that commercial banks cannot return to the financial system would put the authority’s autonomy at risk, Central Bank Governor Alejandro Diaz de Leon said on Thursday.

Speaking in a radio interview, he called for the lower house of Congress to begin dialogue over the initiative, which was approved by the Senate on Wednesday.

(Reporting by Mexico City Newsroom)