Word: aguayo
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Dates: during 1980-1989
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...began to announce new government appointments the day before the inauguration. For the key post of Finance Secretary, he chose Jesus Silva-Herzog, a Yale-educated economist who negotiated a $3.8 billion credit for Mexico this fall from the International Monetary Fund. De la Madrid also reappointed Miguel Mancera Aguayo as director of the Bank of Mexico. Mancera Aguayo had resigned from the post last September after Lopez Portillo imposed strict regulations on currency exchange. Both men are thought to advocate stringent measures to improve Mexico's troubled economy...
...reaction to López Portillo's bold plan was sharply divided. Bankers and some businessmen were outraged. Said Carlos Abedrop Davila, president of the Association of Bankers of Mexico: "Nationalization of private banking will aggravate the current crisis." The government's top banker, Miguel Mancera Aguayo, director of the Bank of Mexico, promptly resigned, apparently in protest over the nationalization. Labor unions and left-wing political groups, however, praised López Portillo. "We believe that these measures will strengthen the economy," said Jose Dorantes Segovia, president of the Labor Congress...