Mexican President Andres Manuel Lopez Obrador on Wednesday backed the central bank's recent moves to raise interest rates, but took a swipe at a board member for criticizing his plan to allocate International Monetary Fund resources to pay off debt.
"I respect that decision they're taking because inflation must be kept under control," he told a regular news conference. "This should be something that matters to all of us."
Lopez Obrador said the bank should be attentive to both inflation and growth, saying: "For a long time, they've only dealt with inflation, they don't look at growth, but that's an outside point of view." Lopez Obrador also took aim at deputy central bank governor Gerardo Esquivel for criticizing his proposal that the Bank of Mexico use money disbursed by the IMF to pay off public debt in order to save interest.
"I am seeing Gerardo Esquivel, who has already become a technocrat, saying you can't do what the president is proposing. You can't because you don't want to, because with all due respect, they are very square," said Lopez Obrador.
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