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Another round of Banxico for Mexico's Ortiz
For weeks the rumor had been circulating in Mexico City's financial circles.
July 2003
Institutional Investor Magazine
Then on June 12, International Monetary Fund managing director Horst Kohler seemed to confirm it: The respected Guillermo Ortiz would be nominated for a second term as chief of the Banco de Mexico.
An unexpected source, Kohler was simply passing along news that he'd heard at a breakfast hosted by President Vicente Fox for international luminaries in town to commemorate Mexico's retiring the last of its Brady bonds (see story, page 50). Fox disclosed that he intended to propose that the Senate confirm Ortiz for six more years. Told of Fox's statement, Ortiz said he would accept.
Markets welcomed the news. As central bank head, Ortiz, 54, has proved to be a pragmatic...