Dr. Guillermo Ortiz was confirmed by the Mexican Senate as Governor of the Bank of Mexico in January of 1998, during the administration of President Ernesto Zedillo. He was re-confirmed as Governor for another six-year term beginning in January 2004 during the administration of President Vicente Fox.   The Bank of Mexico is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency.  Dr. Ortiz’s stewardship of the Bank of Mexico has brought economic stability, a strong peso and greatly reduced inflation to Mexico.  The economic progress Mexico has

achieved under his direction has contributed greatly to the well being of the citizens of Mexico as well as to the success of the North American Free Trade Agreement (NAFTA) among our countries

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From December 1994 to December 1997, Dr. Ortiz served as Secretary of Finance and Public Credit in the Mexican Federal Government. Prior to heading the Finance Ministry, he served briefly as Secretary of Telecommunications and Transportation at the outset of the Zedillo Administration. His past professional experience includes having served as Undersecretary of Finance and Public Credit from December 1988 to November 1994. Before that position, he was Executive Director at the IMF and Manager, as well as Deputy Manager, in the Economic Research Bureau of the Bank of Mexico and an Economist in the Ministry of the Presidency of Mexico.