General Manager, Bank for International Settlements
Agustín Carstens (born 9 June 1958 in Mexico City, Mexico) is a Mexican economist who has served as finance minister, senior officer in international financial organizations, and central banker. He studied economics at the Instituto Tecnológico Autónomo de México (ITAM), where he obtained his bachelor’s degree and graduated with honors (1982). He holds a M.A. (1983) and a Ph.D. (1985) in economics from the University of Chicago.
Carstens began his professional career in 1980 at Banco de México, where he held many positions at the central bank’s International Affairs Department, Economic Research Department, and at the Office of the Governor.
From 1999 to 2000 he was appointed executive director at the International Monetary Fund (IMF), representing the casting votes of Spain, Mexico, Central America, and Venezuela within the organization.
He served as deputy finance minister in Mexico from December 2000 to August 2003. That month, he was appointed deputy managing director at the International Monetary Fund and was responsible for handling the IMF’s relationship with more than 70 member countries.
On 1 December 2006, President Felipe Calderón appointed him minister of Finance, a position he held until 9 December 2009. While serving as minister of Finance, Carstens also chaired the IMF and World Bank Joint Development Committee from March 2007 to October 2009.
On 9 December 2009 he was proposed by President Calderón as a new member of Banco de México’s governing board. After the Senate ratified the president’s proposal, he was appointed governor for a 6-year term, from 1 January 2010 to 31 December 2015.
He has been a member of the Steering Committee of the G-20 Financial Stability Board (FSB) since early 2010.
On 10 January 2011, the Board of Directors of the Bank for International Settlements (BIS), elected him as a board member.
From April 2013 to March 2015 he served as chairman of the FSB Standing Committee on Assessment of Vulnerabilities (SCAV). The SCAV is responsible for monitoring and assessing the vulnerabilities affecting the global financial system and proposing to the FSB the actions needed to address them.
On 1 July 2013, he was appointed chairman of the Economic Consultative Council (ECC) and the Global Economy Meeting (GEM) at the Bank for International Settlements (BIS), both in charge of setting and carrying out effective coordination and cooperation activities among central banks, in favor of global monetary and financial stability.
In June 2013 he received from the University of Chicago the Professional Achievement Award as a distinguished alumnae.
On February 2015 he was selected by the members of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the International Monetary Fund (IMF), as Chairman of the Committee for a term of three years.
After being proposed by President Enrique Peña Nieto, on 17 September 2015 he was ratified and reappointed governor of Banco de México by the Senate for another 6-year term period, from 1 January 2016 to 31 December 2021.
On 1 December 2016, the Board of Directors of the BIS appointed him general manager of this institution, starting on 1 December 2017.
Dr. Carstens continued to serve as Governor of the Banco de México until he was appointed General Manager of the Bank for International Settlements on 1 December 2017.