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Mexico, in Shake-Up, Taps Economic Chiefs
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Mexico's President appointed Carstens as Central Bank chief replacing Ortiz, who had held a strict line against inflation bring in down to 4% even as Mexico's economic growth declined in 2009 with a 7% drop in GDP. Ortiz differed with President Calderon and saw his mandate as acting strctly to keep inflation under control. Now Calderon is emphasizing job creation and growth. He appointed Social Developmet Minister Cordero to the post of Finance Minister. Until now Mexican Presidents including predecessor Vicente Fox relied on technolcrats to run financial positions.
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With replacement of Ortiz at the Central Bank bringing in Carstens and the appointment of Social Developmet Minister Cordero, President Calderon is moving towards policies that promote jobs and growth. GDP declines 7% in 2009.
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