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Banking

Mexico: Can Cordero rise to the challenge?

Some see finance minister as inexperienced; Reforms face tough path through congress

Ernesto Cordero, Mexico’s new finance minister

"When Cordero came into office he had two choices – to come in guns blazing, claiming he knows everything, or quietly get himself up to speed. He took the latter route and that is good"

Ernesto Cordero, Mexico’s new finance minister, has a difficult year ahead of him. He is facing pressure from the president to push through important political, tax and labour reforms and he also needs to stabilize Mexico’s economy and try to convince sceptics that he is sufficiently experienced. Interviewed by Euromoney in late March, Cordero says: "I don’t know if I can deliver more than Mr Carstens [Agustin Carstens – the previous finance minister] but what I can deliver is solvency and stability and I think that is very important."

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