Tuesday, November 18, 2014

Mexican Finance Minister Luis Videgaray receives more international recognition

"Without sustained economic growth there will be no jobs, no way to fight poverty and no prosperity to share" - Luis Videgarary, August 2013

The boss and the whiz kid from M.I.T. still have plenty of economic worries on their plate

Guadalajara -
Almost a year ago the prestigious American journal Foreign Policy named Mexican president Enrique Peña Nieto one of the world's top 100 thinkers and decision makers. This month editors conferred the same honor on his finance minister, Secretary of Hacienda Luis Videgaray Caso.

Foreign Policy recognized Videgaray for his role in "re-energizing" Mexico. The secretary was one of the main architects of the PEMEX reforms, which opened the country's antiquated state oil monopoly Petróleos Mexicanos to private capital investment and foreign technical participation for the first time since it was created in March 1938. On Oct. 30 those reforms survived a final legal challenge, and are now irrevocable. Mexico's Supreme Court rejects call for PEMEX repeal vote.

Videgaray, who earned his Ph.D. in Economics at the ultra prestigious Massachusetts Institute of Technology with a specialty in Public Finance, is the first finance minister in Mexican history to be so honored. He received several similar awards last January, including one from The Economist.

Despite these foreign recognitions, some have called into question the wisdom of the secretary's domestic policies. That's because for two years running Mexico's economy has grown far below expectations and the administration's repeated bold predictions. Mexican economy remains stuck on a southbound train.

Nov. 6 - Mexican economic analysts again dispute official 2014 growth estimate, citing violence as principal concern
Dec. 3 - La necedad de Videgaray

© MGR 2014. All rights reserved. This article may be cited or briefly quoted with proper attribution or a hyperlink, but not reproduced without permission.

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