<p>Mexico City: Mexican Finance Minister Rogelio Ramirez de la O stepped down on Friday in a widely expected move and was replaced by his deputy Edgar Amador, who vowed to maintain financial and economic stability.</p>.<p>Ramirez de la O, who had been in charge of the budget for almost four years, cited personal reasons for his departure. Appointed by former President Andres Manuel Lopez Obrador, he had previously agreed to stay on temporarily under Claudia Sheinbaum after she emerged victorious in elections last year.</p>.<p>Amador had been deputy finance minister, and Ramirez de la O's right-hand man, and has in the past also spent time at the country's central bank. Like several other finance ministers in recent years, he studied at the prestigious Colegio de Mexico.</p>.<p>He was also Mexico City's finance chief during the left-wing administration of Miguel Angel Mancera from 2012 - 2018.</p>.Mexico wins tariff reprieve after president's 'excellent' Trump call.<p>"We're committed to financial stability, to the stability of our currency, to macroeconomic stability," Amador said in a brief video message alongside Sheinbaum and his predecessor.</p>.<p>"This is so that country's economy grows on solid foundations," he added.</p>.<p>Sheinbaum, who called Ramirez de la O "the best economist Mexico has," said in the video message he would become an advisor to her for international economic matters as she seeks to reduce public debt and maintain financial discipline.</p>.<p>Mexico's economy shrank in the fourth quarter for the first time in more than three years and is facing headwinds, with the central bank expecting slowing economic activity.</p>.<p>Economists have also warned of stiff risks ahead, including continuing trade tensions with the United States.</p>.<p>Neither the peso, which traded at 20.25 per US dollar, nor the country's main stock market index reacted on Friday afternoon on the news.</p>.<p>"In June, when he appointed part of his team, there was a positive reaction from the currency," said James Salazar, an economist at CiBanco. "On this occasion, there's no perception of risk of a change in the current fiscal policy."</p>.<p>The reshuffle, which was first reported by local media, comes as Mexico is facing possible tariffs from its northern neighbor and most important trade partner.</p>.<p>On Thursday, US President Donald Trump suspended tariffs of 25% he had imposed earlier in the week on most goods from Mexico and Canada, the latest twist in a fluctuating trade policy that has whipsawed markets and fanned worries about inflation and growth.</p>.<p>The exemptions expire on April 2, when Trump has threatened to impose a global regime of reciprocal tariffs across the country's trading partners. </p>
<p>Mexico City: Mexican Finance Minister Rogelio Ramirez de la O stepped down on Friday in a widely expected move and was replaced by his deputy Edgar Amador, who vowed to maintain financial and economic stability.</p>.<p>Ramirez de la O, who had been in charge of the budget for almost four years, cited personal reasons for his departure. Appointed by former President Andres Manuel Lopez Obrador, he had previously agreed to stay on temporarily under Claudia Sheinbaum after she emerged victorious in elections last year.</p>.<p>Amador had been deputy finance minister, and Ramirez de la O's right-hand man, and has in the past also spent time at the country's central bank. Like several other finance ministers in recent years, he studied at the prestigious Colegio de Mexico.</p>.<p>He was also Mexico City's finance chief during the left-wing administration of Miguel Angel Mancera from 2012 - 2018.</p>.Mexico wins tariff reprieve after president's 'excellent' Trump call.<p>"We're committed to financial stability, to the stability of our currency, to macroeconomic stability," Amador said in a brief video message alongside Sheinbaum and his predecessor.</p>.<p>"This is so that country's economy grows on solid foundations," he added.</p>.<p>Sheinbaum, who called Ramirez de la O "the best economist Mexico has," said in the video message he would become an advisor to her for international economic matters as she seeks to reduce public debt and maintain financial discipline.</p>.<p>Mexico's economy shrank in the fourth quarter for the first time in more than three years and is facing headwinds, with the central bank expecting slowing economic activity.</p>.<p>Economists have also warned of stiff risks ahead, including continuing trade tensions with the United States.</p>.<p>Neither the peso, which traded at 20.25 per US dollar, nor the country's main stock market index reacted on Friday afternoon on the news.</p>.<p>"In June, when he appointed part of his team, there was a positive reaction from the currency," said James Salazar, an economist at CiBanco. "On this occasion, there's no perception of risk of a change in the current fiscal policy."</p>.<p>The reshuffle, which was first reported by local media, comes as Mexico is facing possible tariffs from its northern neighbor and most important trade partner.</p>.<p>On Thursday, US President Donald Trump suspended tariffs of 25% he had imposed earlier in the week on most goods from Mexico and Canada, the latest twist in a fluctuating trade policy that has whipsawed markets and fanned worries about inflation and growth.</p>.<p>The exemptions expire on April 2, when Trump has threatened to impose a global regime of reciprocal tariffs across the country's trading partners. </p>