The Ministry of Finance (SHCP) "respectfully" requests the Bank of Mexico to join in the design of economic policy.

The Ministry of Finance and Public Credit (SHCP) called on the Bank of Mexico (BdeM) to, in addition to ensuring price stability, become a key player in the formulation of the country's comprehensive economic policy . During the commemoration of the 100th anniversary of the central bank's founding , Finance Minister Edgar Amador Zamora emphasized the need to join forces in an increasingly complex global context.

The official emphasized that the central bank's technical voice is more relevant today than ever and that its strategic advice will help consolidate a joint vision that strengthens macroeconomic stability while promoting long-term development .

Amador Zamora recalled that the Bank of Mexico has, among its powers, the authority to advise the federal government on economic matters , and therefore invited it to exercise that role more actively. “In this context of increasing complexity, its technical voice is increasingly relevant. We respectfully invite the bank to exercise this authority with a strategic vision, as a key player in the formulation of a comprehensive economic policy,” the secretary stated.

The proposal seeks to strengthen institutional coordination between the Treasury and the central bank. While the former is responsible for public finances , the latter regulates monetary policy . Together, the two institutions have helped Mexico maintain moderate deficits , sustainable public debt levels, and a capacity to respond to external shocks without compromising the country's stability.

An example of this collaboration occurred during the global inflationary shocks of recent years. While the Bank of Mexico independently adjusted its monetary policy with interest rate increases, the Ministry of Finance (SHCP) implemented extraordinary fiscal measures to contain fuel prices.

According to Amador Zamora, this “harmony” allowed:

• Prevent inflation from getting out of control.
• Protecting real household incomes.
• Reduce volatility in financial markets.
• Facilitate the convergence of inflation toward the central bank's target.

The Secretary emphasized that this joint response is proof that coordination between both institutions strengthens confidence in the Mexican economy and protects the most vulnerable population.

The Treasury Secretary warned that Mexico is facing an economic cycle marked by unprecedented challenges that require a new approach to economic policy. Among the factors shaping the current scenario, he mentioned:

• Geopolitical disruptions impacting supply chains.
• Trade fragmentation at a global level.
• Energy transformation towards renewable sources.
• Climate change and its effects on agricultural and industrial production.
• Commodity volatility putting pressure on prices.

In this context, he argued that it will be necessary to rethink traditional analytical frameworks for monetary policy and broaden our understanding of transmission mechanisms. The objective, he said, is to maintain stability without slowing long-term economic development .

In addition to the macroeconomic challenges, Amador Zamora highlighted that the digitalization of the financial system and the emergence of new payment technologies are transforming the way citizens save, consume, and access credit.

The transition to low-carbon economies and the development of sustainable financial products also pose challenges that require more flexible and modern regulatory frameworks. "Collaboration between the Bank of Mexico, the Ministry of Finance, and other financial authorities will be key to ensuring that innovation serves well-being and does not translate into new sources of inequality or instability," he emphasized.

The Secretary of Finance emphasized that one of Mexico's greatest economic assets is its institutional credibility . "The nominal anchor has been the credibility of monetary and fiscal policy. And the institutional commitment has been firm and shared," he stated.

This commitment has allowed the country to maintain an image of financial stability , which is essential for attracting investment, keeping debt under control, and responding to external crises without compromising its economic future.

The Ministry of Finance 's "respectful" request to the Bank of Mexico does not seek to diminish the central bank's independence, but rather to strengthen coordination in the face of a challenging global situation. Collaboration between the two institutions will be decisive in confronting the onslaught of international inflation , technological transformation, and the transition toward a more sustainable economic model.

Edgar Amador Zamora 's message reflects the urgency of a comprehensive economic design in which monetary and fiscal policy go hand in hand. Only then can Mexico maintain macroeconomic stability , protect the most vulnerable households, and ensure long-term development amid an uncertain international environment.