The Senate of the Republic unanimously approved the appointment of José Gabriel Cuadra García as deputy governor on the Governing Board of the Bank of Mexico (Banxico) with 114 votes in favor, no votes against, and no abstentions. José Gabriel Cuadra García joins the team led by Governor Victoria Rodríguez and deputy governors Jonathan Heath, Galia Borja, and Omar Mejía.
The report from the Finance and Public Credit Commission highlighted that Cuadra García's appointment was proposed by the Chairwoman and presented on January 31 for approval. In the proposal, it is mentioned that Cuadra García meets all the requirements set by law, as he has extensive experience, capability, and professional prestige in the financial field.
Cuauhtémoc Ochoa, chairman of the Finance Commission, emphasized that the professional trajectory of Banxico officials is recognized, highlighting that Cuadra García has experience in the central bank and is the right person who will conduct himself with technical and ethical standards.
José Gabriel Cuadra García will assume his position as deputy governor on the Governing Board of Banxico starting February 5 of this year and will remain in that position until December 31, 2032, marking the first nomination made by Claudia Sheinbaum's administration after the term of former deputy governor Irene Espinosa ended on December 31.
Cuadra García's appointment is considered important for providing certainty to financial markets amid the economic and trade challenges currently faced by Mexico. Cuadra García holds a degree in Industrial Engineering from the Autonomous University of the State of Morelos (UAEM), a degree in Economics from the Autonomous Technological Institute of Mexico (ITAM), and a PhD in Economics from the University of Rochester, New York.
Among his work experience, his work at the Bank of Mexico in areas such as the General Directorate of Economic Research (DGIE) and the General Directorate of Financial Stability is highlighted, from 1998 to the present. Outside the institution, he served as an economic analyst at the Center for Economic Analysis and Research (CAIE) at ITAM from 1997 to 1998.
