January 25 Speaker - Fernando Kempff
Our speaker last week (January 25) was former Secretary of the Treasury for Bolivia (and NXNE Rotarian) Fernando Kempff. Fernando, originally from La Paz, described how, using methods including an extreme austerity program, he was able to reduce rampant hyper-inflation in Bolivia (then an 11,000% rate) to single digits within two years.
Shortly afterwards he was invited to become the Head of Central Bank where they reduced the external debt and reestablished relations with International Organizations (international Monetary Fund and World Bank.) Later he worked with World Bank living with his family in Virginia. In 2000, they moved to Austin. For 15 years he has been a Financial Advisor with Edward Jones. He became a United States citizen in 2006.
Shortly afterwards he was invited to become the Head of Central Bank where they reduced the external debt and reestablished relations with International Organizations (international Monetary Fund and World Bank.) Later he worked with World Bank living with his family in Virginia. In 2000, they moved to Austin. For 15 years he has been a Financial Advisor with Edward Jones. He became a United States citizen in 2006.
