Mexico appoints new deputy finance minister

Finance ministry official Jose Antonio Meade will become Mexico's new deputy finance minister, replacing respected economist Alejandro Werner, Finance Minister Ernesto Cordero confirmed on Tuesday. Meade, who holds a doctorate in economics from Yale University and is a long-time finance ministry official, is currently in charge of government revenues in Latin America's second largest economy

"I think there will be continuity in fiscal policy," said Mario Correa, an economist with Scotiabank in Mexico City. "Werner is a very respected economist and they will miss him, but Meade is qualified for the job." Werner told Reuters he was stepping down on Monday, but news of his departure was taken in stride by financial markets despite his stature on Wall Street. Investors said on Monday Werner's departure was not a major concern due to the number of other talented administrators working at the ministry. Meade comes into the No 2 job at the finance ministry ahead of the deadline for the government to submit its 2011 budget proposals to Congress next month.