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Mexico's Central Bank chief postpones BIC job due to talks with U.S.

Xinhua, February 22, 2017 Adjust font size:

The head of the Central Bank of Mexico (Banxico), Agustin Carstens, announced on Tuesday he has postponed leaving his current job, as his country wades into delicate trade negotiations with the United States.

Carstens, who was set to take over as general manager of the Swiss-based Bank for International Settlements (BIS) starting Oct. 1, 2017, said he will remain as central bank chief for another two months, thus joining the BIS on Dec. 1.

According to Mexican media reports, President Enrique Pena Nieto asked Carstens to remain through supposed tough negotiations with the Trump administration, which wants to renegotiate a two-decade free-trade agreement with Mexico.

A Banxico statement said Carstens' decision to postpone the move resulted from "a meeting to assess the situation and outlook of the Mexican economy," which was also attended by Finance Minister Jose Antonio Meade.

In December, Carstens notified Banxico, where he has been chief since 2009, of his move to the BIS, a financial institution owned by some 60 central banks from countries representing nearly 95 percent of global GDP.

Jaime Caruana, the current general manager at BIS, has agreed to stay on until Nov. 30, 2017, the BIS said. Endit