Mexico’s finance minister has quit over differences with the country’s president Andrés Manuel López Obrador.

In a letter, Finance Secretary Carlos Manuel Urzúa Macías said there were many economic “discrepancies”.

He also said in the letter that economic policy had to be based on evidence and be free of “extremism”.

The currency and stock markets fell after the news of his resignation.

Arturo Herrera Gutiérrez has taken over as finance secretary of Latin America’s second-largest economy.

This resignation is a very hard blow to López Obrador’s government, whose popularity is decreasing.

Via BBC