Mexican Finance Minister Urzua's Resignation Sends Peso Tumbling

Eric Martin reports from Mexico City on unexpected news affecting the currency and market confidence. The Finance Minister resigned due to discrepancies with the administration and imposed officials. His past work with the President and the challenging task of implementing austerity measures are highlighted as contributing factors to his resignation.

What was the main reason cited by the official for his resignation?

• Health issues

• Personal reasons

• Discrepancies with the administration

• Retirement

How did the markets react to the resignation news?

• The currency strengthened

• The currency remained stable

• The currency dropped almost 2%

• The currency increased by 5%

What was the relationship between the Finance Minister and the President?

• They were political rivals

• They were family members

• They had never worked together before

• The Finance Minister had previously worked for the President

What was one of the major challenges faced by the Finance Minister?

• Managing a surplus budget

• Increasing government spending

• Implementing austerity measures

• Reducing taxes

How long had the Finance Minister been in his role before resigning?

• Less than a month

• About three months

• About seven to eight months

• Over a year