Mexican Finance Minister Rogelio Ramirez de la O stepped down on Friday in a widely expected move and was replaced by his deputy Edgar Amador, who vowed to maintain financial and economic stability.

President Claudia Sheinbaum said she has appointed Rogelio Ramírez de la O as adviser for international economic affairs.

Mexican Finance Minister Rogelio Ramirez de la O has stepped down, two sources familiar with the matter said on Friday, having been appointed by the country's previous president. In June last year, Ramirez de la O sought to reassure investors and said he would stay in his current role with the incoming government of President Claudia Sheinbaum to reduce public debt and maintain financial discipline.