Concerns continue over government-Banrep divorce: prominent economists sign letter supporting the Issuer
Banrep - Banco de la República de Colombia Photo: Fb Banrep
TL;DR
- 279 economists, former officials, and experts signed a letter expressing concern over the Finance Minister's departure from a Banco de la República board meeting.
- The departure occurred due to disagreements over a decision to raise the intervention interest rate by 100 basis points to 11.25%.
- The signatories emphasize the importance of respecting the independence and decisions of the Banco de la República, a pillar of institutional functioning and macroeconomic stability.
- They state that the central bank's recent monetary policy decisions are based on rigorous technical analysis and adherence to its constitutional mandate.
- The letter calls on the national government to contribute constructively to economic debate while respecting the central bank's autonomy and strengthening institutional dialogue.