Agustín Carstens is re-elected to continue as head of the BIS until June 2025

The Board of Directors of the Bank for International Settlements (BIS) extended the mandate of the General Manager, Agustin Carstens by the end of June 2025.

The original mandate for which he was selected in 2017, by the 18 central bankers of the world that make up the Board, was for the end of November 2022, so that the decision extends his leadership in the body for another three years.

Carstens has been the first General Manager of the BIS from an emerging economy and today remains the highest ranking Mexican official in international financial organizations.

In the history of the BIS, the previous directors came from advanced economies, in the case of Jaime Caruana, former governor of the Bank of Spain; Malcolm D. Knight, who was previously deputy director of the Central Bank of Canada and Andrew Crockett, Member of the Board of Governors of the Bank of England.

The BIS is an organization that assists affiliated central banks in financial and monetary operationsThat is why they call it “the bank of central banks” and it is the oldest international financial organization in the world whose operation dates back to 1930. The BIS is made up of 60 central banks, including the Bank of Mexico (Banxico).

The BIS Executive Board is chaired by Jens Weidmann, current President of the Central bank of Germany and the Vice President is Stefan Ingves, Governor of the Bank of Sweden.