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Banking, politics mix for Mexico’s presidential candidates

Mexico City, Mexico — Banking and politics get mixed as presidential election candidates battle for stage.

Swiss-based international bank UBS said that in the face of changes in the statutes of the Institutional Revolutionary Party (PRI), the Secretary of Finance and Public Credit, José Antonio Meade Kuribreña, has a good chance of becoming its presidential candidate for 2018, which would see that chance removed from Agustín Carstens of the Bank of Mexico.

In a report entitled “Mexico Succession in Banxico,” by economist Rafael de la Fuente, the anlaysis explains the main reason why Meade Kuribreña is the clear favorite to replace Agustín Carstens in the Bank of Mexico is because President Enrique Peña Nieto may decide Meade will provide the PRI with the best chance of winning the presidential election.

He points out that Jose Antonio Meade has a solid image, is a modern and independent technocrat that can make a valuable asset for the ruling PRI in the current presidential race.

The secretary of the Treasury, Jose Antonio Meade, will be the presidential candidate for the PRI in 2018, something that has been mentioned by his political opponents, other businessmen and bankers.

However, it seems the powers that (may) be have already decided to have two presidency candidates.

Margarita Zavala’s recent resignation from the National Action Party (PAN) is a strategy of the government and the Partido Revolucionario Institucional (PRI) to benefit its candidate, Jose Antonio Meade.

Andrés Manuel López Obrador said that Vicente Fox Quesada, former president of Mexico, supports José Antonio Meade, current Secretary of Finance and Public Credit (SHCP) for next year’s elections.

According to López Obrador, Fox is vigilant in his own interests and will go with Meade to avoid losing the pension he receives as a former president of the country.

“Fox has interests, not a party. He supported Peña and is now with Meade,” said Fox Quesada.

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