Banco de la República manager asks to appoint an 'ad hoc' if the Minister of Finance does not return to the board
The manager of the Banco de la República, Leonardo Villar, issued a direct warning about the absence of the Minister of Finance, Germán Ávila, from the board of directors...
TL;DR
- Banco de la República manager Leonardo Villar warns President Petro to appoint an 'ad hoc' official if the Minister of Finance continues absence from board meetings.
- The Minister's indefinite absence is considered a constitutional breach, potentially leading to reform.
- The board decided to raise the intervention rate by 100 basis points to 11.25% to curb inflation.
- Villar defended the decision, stating it's based on technical analysis and aims to reduce inflation, rejecting claims of favoring the financial sector.
- The bank projects economic growth above 2% for 2026, despite high inflation expectations.