Word: guillermo
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...thankful for the money, many expressed embarrassment at their country's continuing reliance on Washington. Particularly galling was the fact that Mexico pledged revenues from its oil wells, the country's proudest asset, as collateral for the loans. At a news conference last Tuesday, suspicious reporters badgered Finance Minister Guillermo Ortiz with questions about whether Mexico had made any other promises (he said...
...sense of discomfort stuck. ``I feel somehow as if we've sold out,'' said restaurant cook Guillermo Dehesa. So did the 74% of Mexico City residents who recently told a newspaper poll that they opposed accepting American aid. Nor did many Mexicans seem to want foreign investors back. ``Flight capital has turned into vampire capital that has severely bled our economy,'' said a statement from Mexico's manufacturing chamber of commerce. ``We must banish it and never depend on it again.'' Whatever impact the bailout finally has on Mexico, the era of fevered investment in emerging markets has cooled...
...space of 12 hours last Thursday, Mexican Finance Minister Guillermo Ortiz Martinez undertook the unenviable task of charming, consoling and begging the forgiveness of three American credit-rating agencies, the heads of a dozen U.S. commercial banks and 400 investors and analysts who lost nearly $10 billion last month when Mexico's newly minted President, Ernesto Zedillo Ponce de Leon, abruptly allowed the peso to float against the dollar. To the investors, whose stampede to pull their money out of Mexican stocks and bonds stripped the peso of 41% of its value, Ortiz's message was, Come back, the government...
...Zedillo, after just a month in office struggling to retain credibility as his nation's finances appear in disarray, today fired his treasury secretary and adopted an international bailout package which hopes to stabilize the peso. Treasury Secretary Jaime Serra Puche will be replaced by another U.S. trained economist, Guillermo Ortiz Martinez. The new package is designed to limit wage and price hikes and will also include unspecified financing from industrialized nations including the U.S. and Canada. Meanwhile, the value of the peso increased today, a second straight day of improving prospects for the nation's currency...
Then, about 45 minutes after leaving Warsaw on Air Force One Thursday night, Clinton got word from Washington that Panamanian President Guillermo Endara was having second thoughts about his decision to make space in his country for 10,000 refugees. After the plane landed in Naples, Clinton stayed on board to wait for one more call from Vice President Al Gore while members of the reception committee made small talk on the tarmac. The news was bad: Panama had backed...