Avila's Empty Chair

TL;DR

Finance Minister Germán Ávila abruptly left a Banco de la República board meeting, violating his constitutional oath.
The board's majority voted to increase interest rates due to rising inflation expectations from a 23% minimum wage hike and increased public spending.
The minister's actions are interpreted as an attempt by the government to undermine the autonomy of the Banco de la República.
The article warns against repeating historical mistakes of central bank co-option and irresponsible public spending seen in other Latin American countries.
The minister's actions are subject to administrative investigations and disciplinary actions.

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