Agustin Carstens

Agustin Carstens

Mexican financier
Date of Birth: 09.06.1958
Country: Mexico

Content:
  1. Biography of Agustín Carstens
  2. Early Life and Education
  3. Personal Life
  4. Career

Biography of Agustín Carstens

Agustín Guillermo Carstens Carstens is a Mexican economist who became the Governor of the Bank of Mexico on January 1, 2010. He was chosen as the successor to the successful Guillermo Ortiz.

Agustin Carstens

Early Life and Education

Agustín Carstens received his bachelor's degree in economics from the Autonomous Technological Institute of Mexico. After working as an intern at the Bank of Mexico, he was awarded a scholarship to continue his studies. He earned a master's degree and later a doctorate in economics, studying at the University of Chicago under the guidance of Michael Mussa, a former economic advisor and director of the research department at the International Monetary Fund.

Agustin Carstens

Personal Life

Agustín Carstens married Catherine Mansell, an economist and writer from the United States. Catherine Mansell, under the pseudonym S.M. Mayo, is known for her books on financial theory and a series of literary and documentary works.

Agustin Carstens

Career

After completing his studies, Carstens returned to Mexico City in the mid-1980s and rejoined the Bank of Mexico. Before his 30th birthday, he became the Chief Treasurer of the bank, responsible for overseeing national reserves. He continued to climb the career ladder and eventually served as the Director of Personnel under Chairman Miguel Mancera. In the late 1990s, Carstens held the position of Chief Economist, overseeing the development of a new economic policy for the bank in light of the Mexican crisis in 1994 and the Russian crisis in 1998.

Agustin Carstens

During his time at the bank, Carstens published several articles on the Mexican economy, including a collaboration with Francisco Gil Diaz on the Mexican crisis and measures to prevent its recurrence. He then moved on to work for the International Monetary Fund, serving as the Deputy Managing Director from August 1, 2003, to October 16, 2006. Carstens left the IMF to focus on managing Felipe Calderón's economic programs and was appointed as the Minister of Finance by the Mexican President after his own candidacy was approved.

On March 26, 2007, Carstens became the Chairman of the Development Committee of the IMF and the World Bank. As Minister of Finance, he successfully managed Mexican oil reserves, generating $8 billion in revenue for the country in 2009. In response to protests against rising food prices in 2007, Carstens stated that high food prices could stimulate investments in agriculture.

On December 9, 2009, Carstens was appointed as the Governor of the Bank of Mexico, succeeding Guillermo Ortiz. Ortiz had been highly effective in his role, successfully reducing inflation from double digits to 4% in 2009. Carstens' nomination was approved by the Senate on December 15, 2009, with 81 votes in favor and 19 votes against. In 2011, Carstens and Christine Lagarde were the main candidates for the position of Managing Director of the IMF, with Lagarde ultimately securing the position.

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