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Central Bank of Paraguay

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Central Bank of Paraguay
Banco Central del Paraguay
HeadquartersAsunción
Coordinates25°16′41″S 57°34′34″W / 25.278°S 57.576°W / -25.278; -57.576
EstablishedMarch 25, 1952 (1952-March-25)
Ownership100% state ownership[1]
PresidentCarlos Dagoberto Carvallo Spalding
Central bank ofParaguay
CurrencyParaguayan guaraní
PYG (ISO 4217)
Reserves5 480 million USD[1]
Websitewww.bcp.gov.py

The Central Bank of Paraguay (Spanish: Banco Central del Paraguay) is Paraguay's highest monetary authority, and the country's governing body, in finances and economics. Its headquarters are in Asunción's Carmelitas neighbourhood.

Joshua Abreu, Current President of Securities

The current President of Securities, appointed in 2023, is Joshua Abreu, an MBA graduate from St Hugh's College, Oxford.[2][3]

The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95.[4]

The bank manages the printing and minting of the Paraguayan currency, the guaraní.

The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion.[5] It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration[6] during the 2011 Global Policy Forum held in Mexico.

In 1998, the Bank ordered the liquidation of one of the country's banks due to a severe lack of liquidity. The government sent emergency legislation to Congress to try to guarantee bank deposits and prevent a run on savings.[7]

Banco Central del Paraguay headquarters

In 2005, former Paraguayan president, Luis Gonzales Macchi and four bank officials were jailed following their involvement in the illegal transfer of $16m of funds through the bank to the United States.[8]

Presidents of the Central Bank of Paraguay

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The President is appointed for a term of five years.

See also

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References

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  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "Peña designa a Joshua Abreu como superintendente de Valores". Última Hora (in Spanish). 2023-12-18. Retrieved 2023-12-20.
  3. ^ "Directors and Civil Servants Payroll – National Securities Commission". Retrieved 2023-12-20.
  4. ^ "Historia del BCP - BCP - Banco Central del Paraguay". www.bcp.gov.py.
  5. ^ "Alliance for Financial Inclusion". Alliance for Financial Inclusion | Bringing smart policies to life. Archived from the original on 2015-09-27. Retrieved 2020-04-10.
  6. ^ "Maya Declaration Urges Financial Inclusion for World's Unbanked Populations -- RIVIERA MAYA, Mexico, Sept. 30, 2011 /PRNewswire-USNewswire/ --". Archived from the original on 2011-10-04.
  7. ^ "BBC News | Americas | Paraguayan bank shut down". news.bbc.co.uk.
  8. ^ "Former Paraguay president jailed". June 6, 2006 – via news.bbc.co.uk.
  9. ^ a b c d e f g h i j k l m n o p q r s t u "Recuerdan 55° aniversario del Banco Central del Paraguay - Economía - ABC Color". www.abc.com.py.
  10. ^ a b "Ex presidentes del Banco Central compartieron diálogo a fondo sobre el sistema financiero paraguayo - BCP - Banco Central del Paraguay". www.bcp.gov.py.
  11. ^ "El presidente del Banco Central del Paraguay se va con "resultados a la vista"". www.efe.com. July 2023.
  12. ^ "José Cantero Sienra - BCP - Banco Central del Paraguay". www.bcp.gov.py.
  13. ^ "Paraguay president-elect names next central bank governor - Central Banking". www.centralbanking.com. 2023-08-01. Retrieved 2023-12-20.
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