The Envy of the Region

The Envy of the Region


Guillermo Ortíz is not a popular man, not that he cares much. For the thick-skinned Ortíz, governor of Mexico's central bank and hardline inflation hawk, his victory last year when he got inflation under his 2001 and 2002 targets, was particularly sweet. Although the business community, especially exporters, revile him for pushing up the value of the peso, Ortíz's war against inflation was one important reason for Standard&Poor's decision in February to finally raise Mexico to investment-grade status, nearly a year after Moody's had first taken the plunge. Mexico posted its fourth consecutive year of declining inflation in 2001. At 4.4%, last year's inflation ra

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