Central Bank of Paraguay

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. 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.[2]

Central Bank of Paraguay
Banco Central del Paraguay
HeadquartersAsunción
Coordinates25.278°S 57.576°W / -25.278; -57.576
EstablishedMarch 25, 1952 (1952-March-25)
Ownership100% state ownership[1]
PresidentJosé Cantero Sienra
Central bank ofParaguay
CurrencyParaguayan guaraní
PYG (ISO 4217)
Reserves5 480 million USD[1]
Websitewww.bcp.gov.py

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.[3] It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration[4] 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.[5]

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.[6]

Presidents of the Central Bank of Paraguay

The President is appointed for a term of five years.

  • Juan Ramón Chávez (1952)[7]
  • Pedro Juan Mayor (1952), interim[7]
  • Epifanio Méndez Fleitas (1952-1954)[7]
  • Pedro Mayor (1954), interim[7]
  • Osvaldo Chávez (1954)[7]
  • Pedro Mayor (1955), interim[7]
  • Epifanio Méndez Fleitas (1955)[7]
  • Gustavo Storm (1955-1959)[7]
  • César Romeo Acosta Martínez (1959-1989)[7]
  • Crispiniano Sandoval Silva (1989-1991)[7]
  • José Enrique Páez (1991-1993)[7]
  • Jacinto Estigarribia (1993-1995)[7]
  • Dionisio Coronel Benítez (1995), interim[7]
  • Hermes Gómez Ginard (1995-1998)[7]
  • Jorge Gulino Ferrari (1998-1999), interim[7]
  • Samuel Washington Aswell (1999-2001)[7]
  • Raúl Vera Bogado (2001-2002)[7]
  • Juan Antonio Ortiz Vely (2002-2003)[7]
  • Angel Gabriel González (2003-2005)[7]
  • Mónica Pérez (2005-2007)[7]
  • Venicio Sánchez Guerreros (2007), interim[7]
  • Germán H. Rojas Irigoyen (2007-2008), interim
  • Jorge Corvalán (2008-2013)[8]
  • Carlos Fernández Valdovinos (2013-2018)[9][8]
  • José Cantero Sienra (2018-)[10]

References
  1. https://d-nb.info/1138787981/34
  2. "Historia del BCP - BCP - Banco Central del Paraguay". www.bcp.gov.py.
  3. "Alliance for Financial Inclusion". Alliance for Financial Inclusion | Bringing smart policies to life.
  4. http://www.prnewswire.com/news-releases/maya-declaration-urges-financial-inclusion-for-worlds-unbanked-populations-130887928.html
  5. "BBC News | Americas | Paraguayan bank shut down". news.bbc.co.uk.
  6. "Former Paraguay president jailed". June 6, 2006 – via news.bbc.co.uk.
  7. "Recuerdan 55° aniversario del Banco Central del Paraguay - Economía - ABC Color". www.abc.com.py.
  8. "Ex presidentes del Banco Central compartieron diálogo a fondo sobre el sistema financiero paraguayo - BCP - Banco Central del Paraguay". www.bcp.gov.py.
  9. "El presidente del Banco Central del Paraguay se va con "resultados a la vista"". www.efe.com.
  10. "José Cantero Sienra - BCP - Banco Central del Paraguay". www.bcp.gov.py.

See also
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