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Agustín Carstens appointed Bank for International Settlements general manager

Mexico City, Mexico — Agustín Carstens Carstens left his post as governor of the Bank of Mexico after being appointed general manager of the Bank for International Settlements (BIS).

After accepting his appointment as general manager of the BIS, Agustín Carstens filed his resignation as governor of the Bank of Mexico, for his new position in the Bank of International Payments.

Carstens Carstens is an economist from Mexico City. He has a degree in Economics from the Autonomous Technological Institute of Mexico (ITAM), and has a master’s degree (1983) and a Ph.D. in Economics from the University of Chicago (1985).

He began his career in 1980 at the Bank of Mexico, where he held various positions in the international division, in the Economic Research Unit and in the Office of the General Directorate.

From 1999 to 2000, he served as executive director of the International Monetary Fund (IMF), an institution in which he represented the interests of Spain, Mexico, Central America and Venezuela.

In December 2006, then President Felipe Calderón appointed him Secretary of Finance and Public Credit, a position he held until December 2009. He also served as president of the IMF and World Bank Development Committee in March from 2007 to October 2009.

In December 2009, he was proposed by Calderón as a new member of the Board of Governors of the Bank of Mexico and, once approved by the Senate of the Republic, was appointed governor for the period from January2010 to December of 2015.

Since 2010, he has been a member of the Steering Committee of the Financial Stability Board (FSB).

In January 2011, the Board of Directors of the Bank for International Settlements, the oldest financial institution in the world, elected him as a member of the Board.

In September 2015, after being appointed by President Enrique Peña Nieto, it was ratified again by the Senate of the Republic as Governor of the Bank of Mexico, for the period from January 1, 2016 to December 31, 2021.

However, on December 1, 2016, the Board of Directors of the BIS appointed him general manager of that body, which has been constituted in the ideal space for the coordination of central bank policies, for the analysis and purification of the regulation. financial institution at a global level, and which acts as a central bank.

Agustín Carstens will be the first central banker in an emerging economy to occupy this strategic position.

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