AMLO to Retain Economic Policies The News
go to original April 13, 2012

Andrés Manuel López Obrador aays he will respect autonomy of the Bank of Mexico.

MEXICO CITY – Progressive Movement presidential candidate Andrés Manuel López Obrador (AMLO) said that if he wins the election, he will keep macroeconomic policy on its current course and will respect the autonomy of the Bank of Mexico (Banxico).

At a meeting with members of the Mexican Institute of Executives and Finance on Thursday, AMLO said that, as president, he will not seek structural reforms.

He said that, in his view, energy, labor, and fiscal reforms are being imposed on Mexico by foreign powers, and that the country must create its own reforms.

Regarding the Bank of Mexico, he said that he will interfere neither with its policies nor its autonomy, although he said that, when appropriate, he would make a decision on the creation of a central bank to control inflation and stimulate economic growth.

He also said that he wouldn’t nationalize “anything,” and repeated that his anti-corruption and austerity policies would save the country up to 600 billion pesos a year, which he would invest in creating jobs and fighting poverty.

AMLO said that he would not allow any corruption and that he is not interested in money.

In related news, in a press conference Thursday morning, López Obrador criticized the Federal Electoral Institute (IFE) for not using its ample budget to oversee campaign spending.

After alleging that Institutional Revolutionary Party (PRI) candidate Enrique Peña Nieto has already exceeded the spending limit fixed by electoral law, he said that, “the IFE is very expensive because it has a huge bureaucracy that costs billions of pesos.”

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