A close look at the economy.On the second day of the National Convention 2005, AMCHAM members had the chance to listen to two of Mexico's top economic functionaries: Central Bank Governor Guillermo Ortiz Guillermo Ortiz Martínez (born July 21, 1948 in Mexico City) is the current governor of the Bank of Mexico, Mexico's central bank.Ortiz Martínez is the son of Gen. Leopoldo Ortiz Sevilla and Graciela Martínez Ostos and received a B.A. and Secretary of the Economy Sergio Garcia de Alba. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ortiz, the Mexican economy has had a "to put it sweetly, mediocre" growth of three percent due to a combination of macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. circumstances and a favorable external environment. The administrator said that considering such historic circumstances, which have not been seen since the sixties, this growth is "ridiculous" and "insufficient." [ILLUSTRATION OMITTED] The governor of BANXICO considered Mexico to have a historic opportunity to have achieved a considerable degree of economic stability, and now the theme for the next presidential elections will be the potential growth of the economy. "I'm not worried at all about the outlook for next year," he clarified. "I don't anticipate any surprises regarding the elections." Ortiz asserted that before the next electoral process, "we do not have to discover tepid tep·id adj. 1. Moderately warm; lukewarm. 2. Lacking in emotional warmth or enthusiasm; halfhearted: "the tepid conservatism of the fifties" Irving Howe. water, because we already have a diagnosis and we know that we have to do structural reforms, like energy, tax and labor reforms," he added. "Now, it is just having the political will and ability to put it into practice." The functionary said the peso may weaken as the nation reduces interest rates when U.S. yields are rising. "That should reduce the incentive to speculate in favor of the peso and the exchange rate may reach more normal levels." Ortiz reiterated that inflation will finish the year at about 3.5 percent, within the target range of two percent to four percent. For his part, Garcia de Alba indicated that Mexico and the United States Relations between the United States and Mexico are among the most important and complex that each nation maintains. They are shaped by a mixture of mutual interests, shared problems, and growing interdependence. should work in a coordinated way to combat contraband contraband, in international law, goods necessary or useful in the prosecution of war that a belligerent may lawfully seize from a neutral who is attempting to deliver them to the enemy. goods, because a great quantity of Chinese products head to the U.S. and then, with false certificates of origin, head south of the border where they are sold as American goods. He said that the Mexican automobile industry automobile industry, the business of producing and selling self-powered vehicles, including passenger cars, trucks, farm equipment, and other commercial vehicles. and auto distributors could take the initiative to legalize le·gal·ize tr.v. le·gal·ized, le·gal·iz·ing, le·gal·iz·es To make legal or lawful; authorize or sanction by law. le "chocolate" cars as an opportunity, and negotiate in blocks the import of cars to sell them in Mexico and also offer the service of autopart and renovation sales. [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] --L.S.S. Photographs: Eduardo Gomez |
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