David Ibarra Muñoz
Encyclopedia
David Ibarra Muñoz is a Mexican
economist who served as Secretary of Finance (1977–82) during most of José López Portillo
's administration. He currently works as an independent advisor and serves in the board of directors of Grupo Carso
and América Móvil
.
Ibarra Muñoz was born in Santiago de Querétaro
, Querétaro
, into a family led by David Ibarra, an engineer. He graduated from the National Autonomous University of Mexico
(UNAM) with bachelor's degrees in Public Accounting (1952) and Economics (1957) and from Stanford University
with a doctorate degree in Economics (1961).
He has lectured in finance, planning and economics at the National University, where he has also served as Secretary of Social Services (1955–57) and as Director of Graduate Studies in the Faculty School of Economics (1967–69). In 1958 he joined the United Nations Economic Commission for Latin America and the Caribbean
as an economist in Santiago de Chile, Chile
, and two years later he moved back to Mexico City to lead the development research department at its regional office; which he chaired from 1970 to 1973.
When José López Portillo
assumed the presidency of Mexico, he served briefly as director-general of but was called on 17 November 1977 to substitute the Secretary of Finance, Julio Rodolfo Moctezuma
. After failing to control inflation
, facing a steep decline in oil prices and making, in his own words, "a series of economic policy
blunders", he was asked to step down by the president on September 1982 (barely three months before the end of the presidential term) to chair the then-recently nationalized National Bank of Mexico (Banamex).
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
economist who served as Secretary of Finance (1977–82) during most of José López Portillo
José López Portillo
José López Portillo y Pacheco was the President of Mexico from 1976 to 1982.Born in Mexico City, López Portillo studied Law at the National Autonomous University of Mexico before beginning his political career with the Institutional Revolutionary Party in 1959.He held several positions in the...
's administration. He currently works as an independent advisor and serves in the board of directors of Grupo Carso
Grupo Carso
Grupo Carso is a global conglomerate company owned by the Mexican tycoon Carlos Slim. It was formed in 1990 after the merger of Corporación Industrial Carso and Grupo Inbursa...
and América Móvil
América Móvil
América Móvil is a Mexican telecommunication company headquartered in Mexico City, Mexico. It is the fourth largest mobile network operator in terms of equity subscribers, one of the largest corporations in Latin America, and the world. America Movil is a Fortune 500 company...
.
Ibarra Muñoz was born in Santiago de Querétaro
Santiago de Querétaro
Santiago de Querétaro is the capital and largest city of the state of Querétaro, located in central Mexico. It is located 213 km northwest of Mexico City, 96 km southeast of San Miguel de Allende and 200 km south of San Luis Potosí...
, Querétaro
Querétaro
Querétaro officially Estado Libre y Soberano de Querétaro de Arteaga is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is divided into 18 municipalities and its capital city is Santiago de Querétaro....
, into a family led by David Ibarra, an engineer. He graduated from the National Autonomous University of Mexico
National Autonomous University of Mexico
The Universidad Nacional Autónoma de México is a university in Mexico. UNAM was founded on 22 September 1910 by Justo Sierra as a liberal alternative to the Roman Catholic-sponsored Royal and Pontifical University of Mexico The Universidad Nacional Autónoma de México (UNAM) (National Autonomous...
(UNAM) with bachelor's degrees in Public Accounting (1952) and Economics (1957) and from Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
with a doctorate degree in Economics (1961).
He has lectured in finance, planning and economics at the National University, where he has also served as Secretary of Social Services (1955–57) and as Director of Graduate Studies in the Faculty School of Economics (1967–69). In 1958 he joined the United Nations Economic Commission for Latin America and the Caribbean
United Nations Economic Commission for Latin America and the Caribbean
The United Nations Economic Commission for Latin America and the Caribbean was established in 1948 to encourage economic cooperation among its member states. In 1984, a resolution was passed to include the countries of the Caribbean in the name...
as an economist in Santiago de Chile, Chile
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
, and two years later he moved back to Mexico City to lead the development research department at its regional office; which he chaired from 1970 to 1973.
When José López Portillo
José López Portillo
José López Portillo y Pacheco was the President of Mexico from 1976 to 1982.Born in Mexico City, López Portillo studied Law at the National Autonomous University of Mexico before beginning his political career with the Institutional Revolutionary Party in 1959.He held several positions in the...
assumed the presidency of Mexico, he served briefly as director-general of but was called on 17 November 1977 to substitute the Secretary of Finance, Julio Rodolfo Moctezuma
Julio Rodolfo Moctezuma
Julio Rodolfo Moctezuma Cid was a Mexican lawyer who served as the first Secretary of Finance in the cabinet of President José López Portillo, as director-general of Pemex and as director-general of the now extinct Somex bank .Moctezuma was born in Mexico City into a family composed by Alberto...
. After failing to control inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
, facing a steep decline in oil prices and making, in his own words, "a series of economic policy
Economic policy
Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.Such policies are often...
blunders", he was asked to step down by the president on September 1982 (barely three months before the end of the presidential term) to chair the then-recently nationalized National Bank of Mexico (Banamex).