Manuel Sánchez (economist)

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Manuel Sánchez
MSG HQBM(3).jpg
Deputy Governor of The Bank of Mexico
In office
May 27, 2009 – December 31, 2016
Nominated by President Felipe Calderón
Personal details
Born (1950-07-27)July 27, 1950
Monterrey, Nuevo León, Mexico
Nationality Mexican
Spouse(s) Rosina Flores
Children Manuel (1989)
Alma mater ITESM (Lic.)
University of Missouri (M.Sc.)
University of Chicago (M.A. & Ph.D.)

Manuel Sánchez (Monterrey, Nuevo León, July 27, 1950) is a Mexican economist with extensive experience in banking and academia. On April 23, 2009 the President Felipe Calderón Hinojosa nominated him as Deputy Governor and member of the Governing Board of the Bank of Mexico for the period ending on December 31, 2016.[1] The Standing Commission of the Mexican Congress ratified his appointment on May 27, 2009.[2]


He is the son of Manuel Sánchez González (b. 1906, d. 1996) and Josefina González Marquez (b. 1916, d. 2013). He is married to Rosina and has three sons: Manuel (b. 1989), Eduardo (b. 1991) and Pablo (b. 1995).


He earned a B.A. degree in Economics with honors by the Monterrey Institute of Technology and Higher Education (ITESM), Monterrey campus (1976), an M.Sc. by the University of Missouri (1979), and an M.A. and a Ph.D. by the University of Chicago (1983, 1985). His areas of expertise are monetary economics and econometrics. In 1980, the American Agricultural Economic Association honored him with the Excellence award for his M.Sc. thesis.


Manuel Sánchez, February 2008.

Manuel Sánchez began his professional career in 1977 as an economist in the industrial group ALFA (Mexico) and as a professor of economics at the University of Monterrey (UDEM). He joined the Faculty of Economics at the Autonomous University of Nuevo León (UANL) in 1984 as an exclusive-time professor, and a year later he worked as an assistant professor in the Department of Economics of Boston College.

From 1986 to 1989 he served as Manager of Economic Studies at the industrial group Vitro. From 1989 to 1992 he was General Director of the Center for Analysis and Economic Research (Centro de Análisis e Investigación Económica) at the Mexico Autonomous Institute of Technology (Instituto Tecnológico Autónomo de México, ITAM). In addition, for several years he lectured at the UANL and the Monterrey campus of the Monterrey Institute of Technology and Higher Education (ITESM), and he is currently a part-time professor in the Department of Economics of ITAM in Mexico City.

He joined Grupo Financiero Bancomer, now Grupo Financiero BBVA Bancomer, in 1993 as Director of Financial Analysis and Investor Relations, and the following year he was named Director of Planning and Finance for the commercial banking unit, a post held until 1997. From 1998 to 2004, he was Corporate Director of Economic Studies and Chief Economist. From 2005 to May 2009 he served as Director of Business Projects and Director of Investment at Valanza the venture capital unit of BBVA.

On April 23, 2009 the President Felipe Calderón Hinojosa nominated him as Deputy Governor and member of the Governing Board of the Bank of Mexico for the term ending on December 31, 2016. The Standing Commission of the Mexican Congress ratified his nomination on May 27, 2009.

Manuel Sánchez has been a consultant for various international organizations. Since 1998, he has written the op-ed column Razones y Proporciones for the newspaper Reforma, in which he analyzes topics in economics, monetary policy and finance in regard to the Mexican economy. He was a founder and the first president of Amigos de la Universidad de Chicago, an organization aimed at providing financial aid for students pursuing graduate studies at the University of Chicago.

Since 1989 he has been a member of the Technical Advisory Board for the Centro de Estudios Económicos del Sector Privado, A. C. (CEESP). He was a member of the Editorial Board of the business review Ejecutivos de Finanzas published by the Instituto Mexicano de Ejecutivos de Finanzas(IMEF) from 2007 to 2009, and President of the National Committee for Economic Studies and a member of the National Council of IMEF from 1999 to 2000. He was also a member of the Board of Grupo EUREKA (1992–1994) and an advisor to the Foundation for Community Support (Fundación para el Apoyo de la Comunidad, A. C.) (1992–1993).


Manuel Sánchez, Economía mexicana para desencantados, Fondo de Cultura Económica, Mexico, 2006.

Manuel Sánchez and R. Corona, eds., Privatization in Latin America, Inter-American Development Bank, Washington, D.C., 1993.

Manuel Sánchez, ed. Procesos de privatización en América Latina, ITAM-BID, Washington, 1993.


"Review of El enigmático sistema bancario mexicano contemporáneo by F. Hernández y A. Villagómez, México, CEEY, 2013, 222 pp., in El Trimestre Económico, vol. LXXXI (1), no. 321, pp. 271-275, Fondo de Cultura Económica, México, 2014.

"Repaso al sistema bancario", Nexos, 1 November 2013.

"Financial Crises: Prevention, Correction, and Monetary Policy", The Cato Journal, vol. 31, no. 3, Fall 2011.

"Financial Innovation and the Global Crisis", International Journal of Business and Management, vol. 5, no. 11, November 2010.

"La innovación financiera y la crisis mundial", El Trimestre Económico, vol. LXXVII (3), no. 307, pp. 759-770, Fondo de Cultura Económica, México, 2010.

"Exit Strategies: Bank of Mexico" en Udaibir S. Das and Michael G. Papaioannou (eds.), Unwinding Public Interventions, Preconditions and Practical Considerations, International Monetary Fund, Washington 2010, pp. 28-32.

"The Recent Stabilization Experience in Mexico", Cato Journal, vol. 25, no. 1, Winter 2005.

"Estadística de valores y creencias mundiales", Letras Libres, Editorial Vuelta, México, D.F., November 2004.

"Two Cheers for Mexico's Tax Reform" The Wall Street Journal, March 30, 2001.


Arte y materia: un paseo por la escultura 5 December 2013

The shared task of financial inclusion 19 November 2013

Mexico’s prospects for economic growth 18 October 2013

Unconventional Monetary Policy and Central Bank Independence International Conference Central Bank Independence:Progress and Challenges 15 October 2013

The impact of monetary policies of advanced countries on emerging markets 9 September 2013

Mexico in a weak global environment 17 June 2013

Las economías emergentes frente a la bonanza financiera 23 May 2013

Mexico's economic outlook and challenges 20 February 2013

Los sistemas de pagos en México 5 December 2012

Una ventana a Chipre 29 November 2012

Mexico: how to tap progress 1 November 2012

The European Union ten years after the euro zone crisis 18 October 2012

Forces and threats to Mexico's economic recovery 28 September 2012

La economía mexicana en tiempos difíciles 31 July 2012

Olimpiadas: economía y valores 26 July 2012

Estabilidad financiera global y cooperación entre bancos centrales: ¿Qué hemos aprendido? 20 July 2012

Dinámica macroeconómica y precios rígidos 28 March 2012

El enigma del desarrollo económico 31 January 2012

Mexico’s economic integration and outlook 9 December 2011

The Strengths and Challenges of Mexico’s Financial System 8 November 2011

Innovación empresarial y estabilidad financiera 26 October 2011

Policy challenges in a decelerating world economy 25 September 2011

Monetary policy in time of crisis 26 August 2011

Three Issues for Mexico’s Economic Outlook 14 July 2011

Objetivo y Funcionamiento del Banco de México 1 July 2011

Política monetaria y perspectivas económicas 3 June 2011

Systemic Risk: Policy Challenges 11 May 2011

La interminable tarea de la estabilidad de precios 26 January 2011

Los beneficios de la estabilidad de precios 9 December 2010

Financial crises: prevention, correction and monetary policy 18 November 2010

Lessons from the Financial Crisis in Mexico 17 October 2010

Temas económicos y sociales de actualidad en México 13 August 2010

Objetivo y funcionamiento del Banco de México 1 July 2010

Estabilidad y crecimiento económico: el papel del banco central 14 May 2010

Mexico’s Economic Outlook: Challenges and Opportunities 5 February 2010

Unwinding public interventions in the financial sector: an emerging market economy’s perspective 31 December 2009

"Impacto de la Crisis Internacional en México: Respuesta de Política y Perspectivas", Banco Central de Reserva de El Salvador, 19 November 2009


Mexico's monetary policy and economic outlook 15 November 2013

Bono demográfico y educación en México 25 September 2013

Desafíos y perspectivas de la economía mundial 19 July 2013

Mexico: the challenges of capital inflows 26 June 2013

Redescubriendo México 11 March 2013

The search for Mexico's economic progress 18 February 2013

Desafíos externos e internos 8 February 2013

Tres temas monetarios de México 12 November 2012

Boosting sustainable economic growth in Mexico 1 November 2012

The Mexican economy: facts and opportunities 20 September 2012

Desafíos de crecimiento y estabilidad 24 August 2012

Mexico’s economic policy under external constraints 27 June 2012

Global financial stability and the challenges of countercyclical policies 12 May 2012

The Mexican economy: now and in the future 10 May 2012

Economía mexicana: una mirada de largo plazo 9 March 2012

¿Atenuación de la desaceleración económica? 16 February 2012

The euro, the U.S., and the Mexican economy 16 November 2011

Fragilidad económica mundial y México 19 October 2011

Contribución del Banco de México al crecimiento 7 September 2011

The Mexican economy: outlook and challenges 29 June 2011

Avances y oportunidades para el crecimiento económico de México 19 May 2011

Desafíos y perspectivas de la economía mexicana 18 February 2011

Consideraciones sobre el tipo de cambio en México 10 February 2011

Crecimiento económico: ¿pausa o cambio de rumbo? 4 November 2010

Mexico’s Recent Road to Stability 20 October 2010

Recuperación económica y desafíos 29 June 2010

El papel central de las finanzas públicas 2 June 2010

Crecimiento económico de América Latina 5 May 2010

Perspectivas para la inversión privada en México 29 April 2010

Unwinding public interventions in the financial sector: an emerging market economy’s perspective 30 December 2009

Palabras con motivo de la inauguración de la conferencia internacional “Historia de la Banca Central 23 November 2009


"¿Inflación bajo control en 2013?" Inversionista 13 February 2013

"Precisiones y precauciones" Ejecutivos de Finanzas, pp. 34-36, November 2012

"Estrategias calculadas y maduras" Ejecutivos de Finanzas, pp. 30-31, February 2012

"Estabilidad financiera, crecimiento económico y política monetaria", Contrapunto: Revista Estudiantil del CIDE, March 2011

"Banco de México: Objetivos Claros" Ejecutivos de Finanzas, pp. 40-41, March 2010

"México y la crisis financiera mundial" Letras Libres (mesa redonda), December 2008

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