Agustín Carstens has just retired as Director General of the Bank for International Settlements (BIS)—literally the “bank of central banks”—after transforming global finance for eight years. His monetary policy strategies are studied in the United States, Europe, and Asia, and he is considered one of the most influential economists of the 21st century.
This 67-year-old Mexican was the first leader of an emerging economy to head the BIS. He holds a PhD in economics from the University of Chicago, is an advisor to the IMF, savior of Mexico during the 2008 financial crisis (he was nicknamed “Saint Augustine” for saving the country US$5 billion), Governor of the Bank of Mexico, and a candidate to lead the IMF against Christine Lagarde.
The international awards continue:
- King of Spain Prize in Economics 2022
- Lifetime Achievement Award 2025
- Best Central Bank Governor in the World 2012
- Recognized for creating the BIS Innovation Hub, which revolutionized currencies Digital
But here’s the irony: when he was in Mexico as Secretary of the Treasury and Governor of Banxico (2006-2017), many Mexicans didn’t even know who he was. Meanwhile, Harvard, Chicago, Oxford, and MIT universities analyze his papers. Central bankers from 60 countries consult him. The US Federal Reserve studies Carstens’ economic models.
While the average Mexican reads conspiracy theories about how the Rockefellers control the world, the average American economist reads academic articles about how Agustín Carstens transformed the global financial system. Economics students in Europe write theses based on Carstens’ monetary policies.
It’s clear that in Mexico, the government didn’t appreciate him.
We had one of the most brilliant economists on the planet at home, and we let him go without realizing his true international dimension.
Agustín Carstens is Mexican; he trained in Mexico, and Mexico didn’t celebrate him as it should have. While the world studies his thesis, in Mexico, we continue to hope that Morena and its dictatorial-autocratic regime somehow save us from a financial catastrophe.
With information from: El Economista
