Manuel Ramos FranciaGeneral Director
Manuel Ramos Francia is General Director of the Center for Latin American Monetary Studies (CEMLA). He holds a degree in Economics from the Instituto Tecnológico Autónomo de México (ITAM), where he graduated with honors in 1986. He received a Fulbright scholarship for graduate studies in the United States of America, and an Honorable Mention in the Premio Nacional de Economía Banamex 1986 (Banamex National Economics Award 1986). He holds a Ph.D. in Economics from Yale University, where he graduated in 1993, specializing in Advanced Economic Theory and Financial Economics.
He worked at Banco de México for 20 years, holding various positions, the last of which was Vice-Governor on the Board of Governors. He also served in the Ministry of Finance (SHCP), where he also held different positions, the most prominent of which was Deputy Minister (for Revenues). In the academic field, he was Director of the Center for Economic Analysis and Research at ITAM, where he was also a professor of various subjects.
He has published several articles on monetary policy, fiscal policy, economic growth, and international economics in prestigious journals. He is currently Editor-in-Chief (ex officio) of the Latin American Journal of Central Banking. He was also a member of the Editorial Committee of Monetaria and of the Administrative Committee of the IJCB Association (International Journal of Central Banking).
He has given seminars in various national and international forums, organized by universities in many countries, international financial organizations, central banks, and multilateral financial organizations.
Directorate of Financial Stability
Matías Ossandon BuschDirector of Financial Stability
Matias Ossandon Busch is, since October 2021, Director of Financial Stability at CEMLA. He holds a Ph.D. in Economics from the University of Magdeburg and a M.Sc. in International Economics from the University of Tübingen. Previously, he held positions as Post-Doctoral Researcher at the Halle Institute for Economic Research (IWH) and as Visiting Researcher at the Bank of England and Norges Bank. His research interests include empirical banking, macro-financial linkages and international finance.
Peter KarlströmSenior Economist
Peter Karlström is, since February 2022, Senior Economist at CEMLA. He holds a Ph.D. in Economics from the University of Bologna and a M.Sc. in Economics from Stockholm University. Previously, he held positions as full-time Professor at Tecnológico de Monterrey and as part-time Professor at EGADE Business School. His research focuses on empirical macroeconomics, financial crises, and macroprudential regulation.
Ricardo Montañez EnríquezAnalyst
Ricardo Montañez Enríquez is, since July 2020, Analyst at CEMLA. He holds a B.Sc. in Applied Mathematics from the Instituto Tecnológico Autónomo de México (ITAM). Previously, he held positions as Financial Researcher at Banco de México and as Senior Risk Analyst in the private sector. His research focuses on networks, complexity and financial stability.
Josefina Silva FuentealbaAnalyst
Josefina Silva Fuentealba is, since March 2023, Analyst at CEMLA. Graduated in Economics and Business Administration in December 2019 and in April 2021 she obtained a Master's degree in Economics and Public Policy, both at Universidad Adolfo Ibáñez, having taken relevant Courses: Applied Microeconomics, Microeconometrics, Impact Evaluation, Public Finance, Poverty and Public Policy, Economics of Education, Labor Economics, Health Economics and Data Science.
Directorate of Economic Research
Nelson R. Ramírez RondánActing Director of the Directorate of Economic Research
Nelson Ramírez Rondán is Acting Director of the Directorate of Economic Research at CEMLA and is Co-Editor of the Latin American Journal of Central Banking. He holds a Ph.D. in Economics from the University of Wisconsin-Madison (USA), a M.S. in Mathematics and a B.A. in Social Sciences from the Pontifical Catholic University of Peru. His articles have been published in Econometric Reviews, Macroeconomic Dynamics, Empirical Economics, Review of World Economics, Research in Labor Economics, among others.
Gustavo Antonio Leyva JiménezSenior Economist
Gustavo Antonio Leyva Jiménez is, since September 2022, Senior Economist at CEMLA. Graduated in 2003 with a degree in Economics from Universidad Nacional Agraria La Molina, Lima, Peru. He obtained a Master's degree in Economics from the University of Chile, Santiago, Chile, in 2008. He also obtained his M.A. and Ph.D. in Economics from the University of Minnesota, Minneapolis, USA, in 2013 and 2016, respectively.
Andrea González GarcíaAnalyst
Andrea González García is Analyst at CEMLA. She studied a B.A. in Economics at the Instituto Tecnológico Autónomo de México (ITAM). Previously, she worked as a research assistant and intern at the National Commission for Regulatory Improvement (CONAMER) of the Secretariat of Economy in Mexico. Her research interests include monetary economics, macroeconomics and labor economics.
Directorate of Financial Markets Infrastructures
Gerardo Hernández del ValleDirector of Financial Markets Infrastructures
Gerardo Hernández del Valle is a Senior Economist at CEMLA. He holds a degree in Electrical Engineering from Universidad del Tepeyac. From Columbia University, New York, he holds a M. A. in Statistics, a M. Sc. in Probability and Statistics, and a Ph.D. in Probability and Statistics. His research interests focus on: Financial Mathematics, Heat Equation, Econometrics, Complex Variable, Stochastic Differential Equations.
Bernardo Paniagua ZabalAnalyst
Bernardo Paniagua Zabal is an Analyst at CEMLA. He holds a degree in Applied Mathematics and a degree in Computer Engineering from the Instituto Tecnológico Autónomo de México (ITAM). He began his professional practice at Management Solutions, where he participated in consulting projects focused on data engineering. His interests are focused on data analysis, as well as modern tools, such as Blockchain and Analytics, for the study of financial markets.
Karla Alicia Chua MejiaAnalyst
Karla Alicia Chua Mejia is, since February 2023, Analyst at CEMLA. Studies Chemical Engineering at the Technological University of Mexico, she obtained the TOP100STUDENTS recognition for the 100 best students 2021.
Max Emmanuel Mitre BáezAnalyst
Max Emmanuel Mitre Báez is, since October 2023, Analyst at CEMLA. Obtained the degree as Bachelor in Mathematics from the University of Sonora since 2014, with the Thesis: Generalizations of the Minimax Theorem and Equilibria in zero-sum games. In 2016 with the Thesis: Continuous-time Markovian Games: Optimality from the discounted case to the average case, he obtained a Master's Degree in Science with a specialization in Mathematics at the Center for Research and Advanced Studies of the IPN. Since 2016 he is in the process of the PhD in Science with specialization in Mathematics at the Center for Research and Advanced Studies of the IPN.
Julio César Rodríguez BurgosAnalyst
Julio César Rodríguez Burgos is, since October 2023, Analyst at CEMLA. Has a Bachelor's Degree in Economics since October 2012 and a Bachelor's Degree in Applied Mathematics since September 2012 from the Instituto Tecnológico Autónomo de México. In February 2014 he obtained a Master's degree in Mathematics at the Centro de Investigación y de Estudios Avanzados del I.P.N. with specialization in: Stochastic Control and sub-specialty in: Algorithmic and high frequency trading. Since April 2015 he is a PhD candidate in Mathematics by the Centro de Investigación y de Estudios Avanzados del I.P.N with specialization in: Stochastic Control and subspecialty in: Optimal Liquidation and Dynamical Systems.
Directorate of Economic Statistics
Jesús Cervantes GonzálezDirector of Economic Statistics
Jesús Cervantes González is Director of Economic Statistics and Coordinator of the Latin American and Caribbean Remittances Forum at CEMLA. Previously, he coordinated the General Principles for Latin American and Caribbean Remittances Markets Program which concluded in 2015 and was an effort of CEMLA, the World Bank and the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB). This Program obtained international recognition by the Global Forum on Remittances and Development (GFRD) held in Milan, Italy, in 2015. Before working at CEMLA, he worked for 33 years at Banco de México, where among others he served as Director of Economic Measurement. He has published several academic articles, mainly on international economics and income distribution, and more recently on migration and remittances in Latin America, especially referring to Mexico and Central America. In addition, until 2014, he was a professor of economics at the School of Economics and Business at the Universidad Anahuac Norte, and at the Department of Economics at the Universidad Autónoma Metropolitana, Unidad Azcapotzalco, both in Mexico City. He holds a B.A. in Economics from the Universidad Autónoma de Nuevo León, an M.A. in Economics from El Colegio de México and an M.A. and Ph.D. from the University of Chicago.
Juan Antonio Ortega AcostaSenior Economist
Juan Antonio Ortega Acosta is, since October 2023, Senior Economist at CEMLA. Holds a Bachelor's degree in Economics from the Universidad Autónoma de Nuevo León. He studied Economic Policy Administration, obtaining a Master's degree in International Affairs from Columbia University in 1996.
Denisse Lizbeth Jiménez TorresAnalyst
Denisse Jiménez Torres is an Analyst at CEMLA. She has a degree in Economics from the Universidad Autónoma Metropolitana (UAM). Denisse has participated in several seminars and courses on Migration, Remittances and Financial Inclusion, as well as Balance of Payments. She has co-authored "La masa salarial de los trabajadores mexicanos inmigrantes en Estados Unidos alcanzó 283 mil millones de dólares en 2021" and "Dinamismo del empleo de los trabajadores mexicanos inmigrantes en Estados Unidos y del ingreso de México por remesas" both CEMLA Remittances Notes. Among her activities, she has worked in the development of surveys on Latin American migrants, in the design of processes for obtaining results and in their statistical analysis. In addition, she has experience in layout and composition of publications such as notes and dissemination documents
Cindy Sánchez RicardoAnalyst
Cindy Sánchez Ricardo is an Analyst at CEMLA. She graduated with a degree in Economics from the Universidad Autónoma Metropolitana (UAM). She has experience in the analysis and statistical work on Remittances, Migration, Education and Financial Inclusion in Latin America and the Caribbean. She has worked in the development and collection of results of several surveys on Latin American migrants and is a specialist in the exploitation of the Current Population Survey (CPS) database of the U.S. Census Bureau for the Bureau of Labor Statistics (BLS). She is co-author of several issues of CEMLA's Remittances Notes.
Directorate of Corporate Services
Nabiha Mohammad Sáade ZáblahDirector of Corporate Services
Nabiha M. Sáade is Director of Corporate Services at CEMLA. She holds a B.A. in Economics from the Universidad Iberoamericana, and a Master in Science in International Economics, Banking and Finance from the University of Wales, Cardiff College, in the United Kingdom. She worked in the international area of the Ministry of Finance (SHCP) from 1990 to 2000, both in Mexico City and in the Mexican Delegation to the Organization for Economic Cooperation and Development (OECD) in Paris, France. From 2001 to 2013, she worked in various areas of the Mexican Social Security Institute (IMSS) on issues related to economic and social benefits, as well as affiliation, collection and auditing. From 2013 to 2017, she was in charge of the customer service and marketing areas at the retirement fund administrator Afore XXI Banorte. In 2018-2019, she served as Director of Marketing of Movable and Immovable Assets at the Asset Administration and Disposal Service (SAE).
Ixchel Beristáin MendozaSenior Economist
Ixchel Beristáin Mendoza is Senior Economist of Corporate Services at CEMLA. She holds a degree in Economics from the Universidad de las Américas-Puebla (UDLAP); a M.Sc. in Applied Economics from Cardiff University, Wales, Great Britain; a Master in Business Administration (MBA) from UDLAP; and a Master in Information Technology Administration (MITA) from UDLAP, with a Specialization in Information Systems. She participated in different consulting projects led by the Universidad Nacional Autónoma de México (UNAM), Universidad Autónoma de Sinaloa (UAS) and Universidad Tecnológica de Tabasco (UTTAB). She has 10 years of experience as an Official of the Federal Government of Mexico, and 15 years of experience as a Senior Consultant in processes, business administration, public administration and information technology (IT).