Things That Matter

The Peso Plummets After Mexico’s Finance Minister Quits And Calls Out Corruption In AMLO’s Government

Mexico’s peso has taken a hit in value after the country’s finance minister decided to quit his job over disagreements with the president.

The decision by a top adviser to the Mexican president to resign while denouncing conflicts of interest in the government stunned the nation and its financial markets.

After news broke that the finance minister was resigning, the Mexican Peso lost a lot of value.

Credit: @CNBCNow / Twitter

Finance Minister Carlos Urzua’s abrupt decision to quit on Tuesday was the first major cabinet loss since Andres Manuel Lopez Obrador took office in December. The scorching tone of his resignation letter, from a public official known for extreme politeness and addressed to a president who made fighting corruption his central campaign issue, made the departure all the more surprising.

The unexpected departure of Carlos Urzua seven months into Lopez Obrador’s presidency sent stocks and the peso plunging and renewed worries among investors still wary after the president’s cancellation of a $13-billion airport project that was underway outside Mexico City.

In his resignation letter, Urzua called out corruption and conflicts of interest inside the government.

Credit: @CarlosM_Urzua / Twitter

“I’m convinced economic policy should be based on evidence, considering the various effects it may have and free from all extremism, whether from the right or left,” Urzua wrote in the letter posted on his Twitter account, adding that decisions by Lopez Obrador’s government on matters of public administration have lacked foundation. “However, during my term, these convictions weren’t shared.”

His tweet already has more than 25,000 retweets and nearly 7,000 comments.

By midday, the peso had fallen over 2% against the US dollar – a major slide for a currency considered to be quite healthy.

Credit: @LocalBusPod / Twitter

Within an hour, AMLO, as the leftist leader is known, nominated Arturo Herrera, Urzua’s deputy, to replace him. That helped to limit a tumble in the peso, which fell 1.2% at 3:23 pm local time, stopping losses of as much as 2.3% that had followed the publication of Urzua’s letter. The nation’s main stock index fell as much as 2%.

Markets are worried because according to many sources, Urzua was seen as the most responsible official at the finance ministry.

Credit: @GMonroyEnergy / Twitter

Many have admitted that it was not a secret that there were disagreements within AMLO’s government over economic policy.

Urzua had publicly opposed a law proposed by Lopez Obrador’s Morena party to reduce bank fees. He also opposed a proposal that the government dip into central bank reserves to fund infrastructure plans.

Some bickering is to be expected with any government, according to Coutiño, “there should be a consensus in terms of what the administration wants to do in the country.”

And the news simply shocked many, since Urzua had been one of AMLO’s most vocal allies and supporters.

Urzua has been a long-standing ally of Lopez Obrador, having been his finance secretary when AMLO was mayor of Mexico City at the start of the last decade. Herrera is also a former finance minister of AMLO’s in the nation’s capital.

READ: Protests In Mexico Over Increasing Gas Prices Turned Violent

El Chapo’s Mother Claims That The US Illegally Extradited Her Son And She Wants Him Back

Things That Matter

El Chapo’s Mother Claims That The US Illegally Extradited Her Son And She Wants Him Back

ABC News / YouTube

El Chapo’s mother has reportedly asked Mexican President Andrés Manuel López Obrador (AMLO) to bring her son back from U.S. federal custody. María Consuelo Loera Pérez, El Chapo’s mother, claims that the U.S. illegally extradited her son from Mexico.

María Consuelo Loera Pérez, El Chapo’s mom, wants her son brought back to Mexico.

According to Daily Mail, El Chapo’s mother sent a letter to President López Obrador claiming to have information that proves that the U.S illegally extradited her son. In the letter, Loera Pérez argues that her attorneys have sufficient proof that the U.S. acted inappropriately and is asking President López Obrador to bring El Chapo back to serve his sentence in Mexican custody.

It is alleged that Loera Pérez’s attorneys are already in talks to bring El Chapo back to Mexico.

Some people have been able to find humor in the news. El Chapo was extradited and eventually convicted by U.S. authorities on a series of felonies tied to his participation in the drug trade. His involvement in cartel activities in Mexico that spilled into the U.S. led to his extradition and sentencing in U.S. custody.

The news comes after a viral video showed AMLO visiting with El Chapo’s mother.

The video, allegedly taken in Badiraguato, Sinaloa, Mexico, shows AMLO walking up and greeting Loera Pérez as she sits in a car. He can allegedly be heard telling her not to get out of the car and that he did get her letter. The mention of the letter does lend credibility to the claims of El Chapo’s mother fighting to bring him back. However, it is unclear what the letter he mentioned addressed.

The video is drawing strong reactions from people as AMLO is violating social distancing guidelines set forth to combat COVID-19.

AMLO has been panned for leaving Mexico exceptionally vulnerable to the COVID-19 pandemic by not moving quickly enough to set restrictions. Health authorities in Mexico are urging all 130 million citizens to stay indoors and to only leave on essential business.

Some people are more upset with the fact AMLO met with El Chapo’s mother.

“In this case, the least of the problems is the social distancing for Covid19,” @archibaldo53 tweeted. “The true problem is the significance of this visit that clarifies our doubt completely and finds López in relations with these people.”

El Chapo is currently serving a life sentence in U.S. federal custody. He was sentenced to life by a Federal District Court in Brooklyn for his drug, murder, and money laundering charges.

READ: El Chapo’s Daughter Is Using His Name And Face to Launch A Beer Brand After She Launched A Fashion Line

Google Launches Faces Of Frida So You Can Pass The Time Learning About The Artist’s Life

Culture

Google Launches Faces Of Frida So You Can Pass The Time Learning About The Artist’s Life

Google

Few artists have reached the level of fame as Frida Kahlo. The Mexican painter is more than an artist. Kahlo is a point of cultural pride that transcends nationality within the Latino community and unites Latino art lovers in their le of Latin American art. Now, Google, in the time of self-isolation, is giving everyone a chance to learn about the iconic painter.

Google wants to give everyone a chance to learn about Frida Kahlo with its online “Faces of Frida” exhibit.

Credit: Google

Anyone who visits the “Face of Frida” exhibit can browse through the artist’s incredible paintings. Kahlo is one of the most influential artists the world has ever known. Her fame and people’s admiration continue to this day with tributes still appearing around the world for the Mexican artist.

Viewers can decide which museum’s Frida Kahlo collection they want to explore.

Credit: Google

The exhibit is made possible by 32 museums from around the world collaborating to show Frida Kahlo’s impressive and iconic works of art. Museums across four continents shared Kahlo piece from their exhibits with Google to create an exhibit showing more than 800 paintings. Some of the museums include Museo Frida Kahlo in Mexico, Los Angeles County Museum of Art in the United States, Nagoya City Art Museum in Japan, Fundación MAPFRE in Spain, and Buenos Aires Graffiti in Argentina.

The interactive exhibit is perfect for all Frida Kahlo and art lovers alike. While 3.4 billion people in the world are on lockdown orders, the incredible virtual exhibit of Kahlo’s work gives people a chance to see works of art they haven’t been able to visit yet.

The exhibit is easy to navigate and some of Kahlo’s works have been collected into their own themed galleries.

Credit: Google

Kahlo is most famous for using her own life as the inspiration for her works of art. The artist often played with the themes of pain and death due to her own near-death experiences. Her tumultuous relationship with Diego Rivera influenced Kahlo’s work depending on where they were in their relationship. The couple was notorious for taking extra-marital lovers throughout their marriage.

“Faces of Frida” also offers art fans a chance to learn about Kahlo through editorial features.

Credit: Google

Kahlo was one of the most revolutionary women in the world. She moved through space unimpeded by society’s views on her gender and place in society. She was politically engaged and held onto a list of values that many still argue over today. Namely, there have been discussions and think pieces about the sudden commercialized usage of Kahlo’s image and what she might have to say about it. As someone who was opposed to capitalism, it seems safe to say she might not have appreciated herself being used for capitalistic gains.

You can visit “Faces of Frida” by clicking here.

READ: This LA Play Explores The Mystery Surrounding Frida Kahlo’s Death, Her Love Affairs, And Her Passion For Art