AmCham's Economic Forum in Monterrey.

AMCHAM -- Monterrey members had the opportunity to hear Everardo Elizondo, vice-governor of the Mexican Central Bank, present a detailed view of the economic expectations for the coming year at AMCHAM's Economic Forum, this past October 14. Sponsored by Baker & McKenzie, the event was held at Monterrey's Industrial Club.

The Monterrey division of AMCHAM began its Economic Forums in 2001, with the objective of presenting its members with high-level economic projections for the coming year. The end goal is to help with the planning and budgeting process of member companies.

The event started with a breakfast followed by a welcoming message given by Jose Enrique Guzman Quiroga, national partner of Baker & McKenzie, who introduced the keynote speaker.

In his presentation, entitled "Notes on recent economic evolution," Elizondo explained that the expectations of economic growth in the U.S. have been adjusted downwards as a consequence of the hurricanes, and the depreciation of the yen has been a consequence, in part, of monetary politicies. He also said that the analysts expect solid economic growth and an increased rate of inflation in Argentina and Chile during 2006. And for Mexico and Brazil, he predicts growth below 3.5 percent and a decrease in inflation.

In the national overview, he pointed out that during 2005 the expectations of inflation have shown a clear tendency towards the low, and that the inflation anticipated for 2005 reduced from 3.7 percent in last August's survey to 3.6 percent in September's. Elizondo also stated that last July, manufacturing employment (not maquiladora) continued to decrease. What's more, he said that in August, non-petroleum exports and imports of merchandise continued a decrease that began in the second half of last year.

After the conference, Elizondo answered questions asked by attendees and received a certificate of appreciation from Roberto Cavazos, executive director of AMCHAM Monterrey Division. Jose Enrique Guzman Quiroga received a certificate, as well, on behalf of Baker & McKenzie for his participation as sponsor of the event.