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Mexico's New Finance Minister Does Not See Impending Recession

Reuters

   MEXICO CITY - Mexico's new Finance Minister Arturo Herrera said on
   Tuesday that he does not see an impending recession, despite a
   contraction in Latin America's second-largest economy during the first
   quarter and analysts' expectations of further weakness.

   "I don't see a recession around the corner ... I see that there has
   been a slowdown on a global level but we are very, very far from
   thinking that we are close to a recession," Herrera told reporters, in
   his first press conference since being named finance minister.

   His predecessor Carlos Urzua resigned on Tuesday with a letter that
   shocked markets by citing "extremism" in economic policy, before
   President Andres Manuel Lopez Obrador quickly named well-regarded
   deputy minister Herrera to replace him.
   

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