Carstens likely to replace Ortiz as BIS chair


Mexico's incoming central bank governor is likely to replace Guillermo Ortiz as the chairman of the Bank for International Settlements'(BIS) board of directors.

Agustin Carstens, Mexico's finance minister, was nominated to head the country's central bank last week. If the Senate approves the nomination, he will succeed Ortiz, the current head, in January 2010.

The BIS's board elected Ortiz as chairman - the first to come from an emerging-market economy - for a three-year term back in March. But

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