Beteta was born in Mexico City into a family led by General Ignacio Beteta, a well-known artist and former chief of staff of President Lázaro Cárdenas and brother of Ramón Beteta, who also served as Secretary of Finance during the presidency of Miguel Alemán Valdés.[2] He graduated from the National Autonomous University of Mexico (UNAM) with a bachelor's degree in Law (1948), completed a master's degree in economics at the University of Wisconsin (1950) and married Gloria Leal Kuri before working as a professor of Introductory Economics and Monetary Theory at the National School of Economics (UNAM, 1951–59).[2]
He worked as director-general of Credit (1964–70) and then as Undersecretary of the Treasury (1970–75) at the Secretariat of Finance,[2] and when the secretary, José López Portillo, resigned to run for president as candidate of the Institutional Revolutionary Party (PRI), Beteta was appointed as substitute. During his tenure, he had to deal with the 1976 peso devaluation.[4]
After leaving the federal cabinet, Beteta served as president of the extinct Somex Group (1977–82), as director-general of Pemex (1982–87), as governor of the State of México (1987–89) and as director-general of Comermex (1989–90).[2] He died in Mexico City on 5 October 2004, victim of a chronic lung disease.[1]
His nephew, Óscar Mario Beteta, is a popular radio host in Mexico City.[4]
^Jarquín, María Teresa; Herrejón Peredo, Carlos (1995). "En el interludio de Mario Ramón Beteta". Breve historia del Estado de México (in Spanish) (1 ed.). Mexico City: El Colegio de México/Fideicomiso Historia de las Américas/Fondo de Cultura Económica. ISBN968-16-4563-4. Retrieved 4 October 2009.
^ abFernández, José Antonio (19 June 2006). "Entrevista con Óscar Mario Beteta". La Revista (in Spanish). Mexico City: Canal100.com.mx. Retrieved 4 October 2009. Ignacio Beteta, mi abuelo, fue Jefe del Estado Mayor con el Presidente Cárdenas. Después, su hermano, Ramón Beteta, mi tio abuelo, fue Secretario de Hacienda con Miguel Alemán y embajador en Italia. Mi tio Mario Ramón, fue Secretario de Hacienda con Luis Echeverría. Por cierto, en septiembre de 1976 le tocó tristemente dar la noticia de la devaluación del peso.