Ricardo Bonilla reappears after prison release and accuses Banrepública of making the economy more expensive
Ricardo Bonilla, former Minister of Finance Photo: César Melgarejo/ El Tiempo
TL;DR
- Former Minister of Finance Ricardo Bonilla criticized the Banco de la República upon his public reappearance.
- Bonilla stated that current interest rates are increasing the cost of money and negatively impacting the economy.
- He believes the central bank reacted with a delay to post-pandemic price increases, contributing to high inflation.
- Bonilla argues that despite recent inflation decreases, interest rates remain high, affecting credit costs and economic dynamics.
- He questioned the central bank's technical approach and the effectiveness of its inflation targets, noting a low historical compliance rate.