Mexico's finance minister resigns in wake of Trump visit

Mexican Finance Minister Luis Videgaray has stepped down, his ministry said on Wednesday, pushing out of the government the closest ally of President Enrique Pena Nieto, who has been under pressure since Donald Trump's controversial visit last week.

A ministry spokeswoman said Videgaray would step down not long after the government said Pena Nieto would hold a news conference later on Wednesday morning.

Pena Nieto was pilloried for hosting Trump, the Republican U.S. presidential candidate, at short notice last Wednesday. Senior diplomats said Videgaray had been instrumental arranging the visit.

Videgaray ran Pena Nieto's presidential election campaign, and was widely seen as the minister closest to the president.

The resignation comes shortly before the government presents a 2017 budget with cuts needed to restore confidence.

Videgaray will not take another public post, the spokeswoman said. Two people familiar with the matter said that Videgaray will be replaced by Jose Antonio Meade, a former finance minister. The spokeswoman could not confirm this.

(Reporting by Dave Graham; Editing by Jonathan Oatis)