Word: ortiz
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BORN: Feb. 12, 1968, Santa Fe EDUCATION: Yale U, B.A., 1990; U of New Mexico, J.D., 1995 FAMILY: Wife, Bianca Ortiz Wertheim RELIGION: Jewish MILITARY: None OCCUPATION: Business consultant; financial analyst POLITICAL CAREER: New Mexico Democratic Party central committee, 1993-95 ADDRESS: P.O. Box 8998, Albuquerque...
After Wednesday's market chaos, U.S. Treasury Secretary Robert Rubin met in Washington with Mexican Finance Minister Guillermo Ortiz for talks aimed at nailing down all the details and conditions of the $20 billion in loans and guarantees that the U.S. is prepared to extend, out of an international bailout package totaling almost $50 billion. A U.S. source described the talks as ``very hot.'' Lawrence Summers, Undersecretary for International Affairs at the Treasury and a participant, said the U.S. was insisting on ``very tough conditions'' to make sure the loans would be repaid. One condition is that...
...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...
...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...
...Ortiz's blend of confidence, competence and contrition reassured some listeners. "Well, that's what we've been waiting for!" exclaimed an analyst ) after the Finance Minister's two-hour, standing- room-only speech at Manhattan's Pierre Hotel, one of more than a dozen meetings he held before traveling to Washington to put his case before the World Bank...