Guillermo Ortiz, former finance secretary and Central Bank governor, writing in the Financial Times:
It would be the ultimate historical irony if, by destabilising Mexico, the US created incentives for renewed illegal immigration, increased Mexico’s trade surplus with the US due to currency depreciation and encouraged the resurgence of a populist regime antagonistic to its own national interests.
Breaking a long silence, Banco de Mexico governor Guillermo Ortiz said he would be willing to serve a third term as head of the bank: “If the President and the Congress think that I can continue to be of service, I will do so with great pleasure; I will never say no to Mexico,” Ortiz said. The President is expected to make his nomination, which must be ratified by the Senate, this week. Calderón has been believed to have a clear preference for putting Agustín Carstens in the central bank, with Ernesto Cordero taking over at the Ministry of Finance. However, as columnist Salvador García Soto noted, the trial balloon of Cordero’s name “was not well viewed by Congress—particularly by the PRI Senate delegation—or by influential Wall Street voices who lack knowledge of the current Minister of Social Development.” (Universal 12/3, 12/5)
Speaking at the IMF meetings in Istanbul, Banco de México president Guillermo Ortiz backed the government’s proposed tax package. Ortiz said that the tax increase was needed to bridge the fiscal gap and would not hurt the economic recovery. He called on the Congress to act “with responsibility” to keep public finances sound. Private sector groups, including the umbrella CCE business group and the American Chamber of Commerce continued to attack the proposals, saying they would hurt investment. (Universal 10/8, Reforma 10/12)