Mexico (AFP)

Mexican Finance Minister Carlos Urzua resigned on Tuesday with economic disagreements with the government of left-wing President Andres Manuel Lopez Obrador.

"Disagreements in economic matters, there have been many, some are explained by the fact that this administration made decisions without any basis," wrote Carlos Urzua in an open letter published on Twitter.

Mr. Urzua also denounced as "unacceptable" having "imposed (within the ministry) officials who have no competence in matters of public finances".

"This has been encouraged by influential figures in the current government with, in the end, an obvious conflict of interest," he added, without naming a name.

Dr. Urzua, a 64-year-old professor of mathematics and a doctor of economics, had been in office since the beginning of Mr. Lopez Obrador's term on December 1.

AMLO, which is the nickname of the head of state, has accepted the resignation of Carlos Urzua and has appointed in his place Arturo Herrera, until now Deputy Minister of Finance.

"He (Urzua) did not agree with the decisions we are making, but we are committed to changing the economic policy that has been imposed in the last 36 years," said Lopez Obrador. after in a video.

"I accept the resignation of the Minister of Finance whom I thank for his support and respect (...) I decided to appoint Arturo Herrera," he added.

Present at his side, the new minister, a former World Bank, announced his intention to work to fight against "inequalities".

In the wake of the resignation of Carlos Urzua, the Mexican peso lost nearly 1.36% against the dollar and the Mexican stock market 1.77% at the close of markets.

According to some experts, this resignation could lead to a relaxation of fiscal policy, which could lead to an increase in public spending.

"The economy weakened during the first half of the year and yet fiscal policy remained constrained," said Capital Economics. "With Urzua on the sidelines, this could pave the way for a relaxation of fiscal policy," added Capital Economics.

Others wanted to be more reassuring.

"The rapid appointment of Arturo Herrera, who knows the (economic) mechanisms and the economic vision of the new government, sends a signal of confidence to the public and especially markets," said Gabriel Casillas, economic analyst Bank Banorte.

For its part, Mexican employers have expressed concern over tensions within the government.

"We are worried about the tensions that we now know have existed within the government at the time of making macroeconomic decisions, and especially with regard to the fact that they were taken without foundation or method," said Gustavo de Hoyos, president of the influential Mexican employers' confederation (Coparmex).

? 2019 AFP