Mexicoâ€™s Guillermo Ortiz: The Anti-Greenspan - Eddy Elfenbein

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Mexicoâ€™s Guillermo Ortiz: The Anti-Greenspan
Aug 27, 2008 06:47 PM UTC

Eddy Elfenbein

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Imagine a country whose central bank responded to growing inflation by raising interest rates, strengthening the currency and trying to win investor confidence. This may be shocking to some U.S. investors, but proper monetary policy is still being practiced. Just not here in the United States. Iâ€™d give the award for Best Central Banker in the world today to Mexicoâ€™s Guillermo Ortiz.

This is a story that truly ought to be better known. Mr. Ortiz has now been at the helm of the Mexican central bank for over ten years, and despite many obstacles (consider that 70% of Mexicans donâ€™t even use banks), heâ€™s emerged as the anti-Greenspan. Mr. Ortiz previously served Finance Minister where he helped clean up the mess surrounding the peso devaluation in 1994.

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