Columnist Sergio Sarmiento has put forward another reason for delaying until November picking a replacement for Carstens as Governor of Banco de México: It will be a consolation prize for either Videgaray or Meade, if either of them is not chosen by President Peña Nieto to be the PRI’s candidate for 2018.
It seems that Peña Nieto doesn’t want to squander a post as important as Governor of the Banco de México on a respected economist, such as [Deputy Governor Alejandro] Díaz de León, but who doesn’t have a political career. He wants to leave the post open for José Antonio Meade, the current Finance Secretary, or Luis Videgaray, the former Finance chief now in charge of the Foreign Ministry.
This seems to me to be a lamentable decision. Either Meade or Videgaray would be excellent members of the Bank’s board, but the problem isn’t this. We continue to see a federal government that doesn’t value career professionals and instead favors politicians for the most important posts. The main embassies and the most important administration positions are filled, now and again, by politicians with little or no experience in the institutions they are sent to lead.