Miguel Mancera Aguayo, first autonomous governor of Banxico, dies at 93

Miguel Mancera Aguayo, the first governor of the Banco de México (Banxico) following the institution's transition to autonomy, has passed away at the age of 93. His death was confirmed on Monday, August 10.

Mancera Aguayo was a central figure in Mexican economic and monetary policy during the latter half of the 20th century. After joining Banxico as an economist in 1957, he rose through various leadership roles. In 1982, President Miguel de la Madrid appointed him Director General, a position he held during significant economic crises and periods of high inflation.

One of his most notable achievements was overseeing the 1992 introduction of the 'Nuevo Peso,' a monetary stabilization process that removed three zeros from the national currency. Following legal reforms that granted Banxico autonomy, he became its first Governor in 1994, serving until 1998.

A graduate of ITAM with a master's degree in economics from Yale University, Mancera Aguayo also maintained a significant presence in academia and philanthropy, serving on the governing boards of ITAM and various cultural institutions.