The National Autonomous University of Mexico (Universidad Nacional Autónoma de México) is a public research university in Mexico City, Mexico and is the largest university in Latin America. The UNAM is widely regarded by many university world rankings as the leading university of the Spanish-speaking world. UNAM was founded, in its modern form, on 22 September 1910 by Justo Sierra as a liberal alternative to its preceding institution the Royal and Pontifical University of Mexico (founded on 21 September 1551 by a royal decree of Charles V, Holy Roman Emperor and brought to a definitive closure in 1867 by the liberals). To this date, the National Autonomous University of Mexico owns and uses for academic activities the old buildings located in downtown Mexico City that once belonged to the old Royal and Pontifical University of Mexico UNAM's autonomy, granted in 1929, has given it the freedom to define its own curriculum and manage its own budget without interference from the government. This has had a profound effect on academic life at the university, which some claim boosts academic freedom and independence.