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New Mexico finance minister named

BloombergMEXICO CITY (Bloomberg) — Arturo Herrera was nominated as Mexico’s finance minister after Carlos Urzua abruptly quit over policy differences in the first major cabinet resignation for President Andres Manuel Lopez Obrador. The nation’s currency and stocks tumbled.

The peso lost as much as 2.3 percent following the announcement of Urzua’s resignation, only to pare its loss after AMLO, as the leftist president is known, said Herrera, currently the finance undersecretary, is his choice for successor.

“He is not happy with the decisions we are taking,” Lopez Obrador said about Urzua in a video on Facebook, standing alongside Herrera after the minister’s resignation. Speech

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