Media report: The Peruvian government ratifies the head of the Central Bank

This content was published on Oct 02, 2021 – 20:22

Lima, October 2 (EFE). – The Peruvian government has approved economist Giulio Velardi as head of the Central Reserve Bank (BCR), in a decision that also included the appointment of three directors of the organization, local media reported on Saturday.

“Confirmed: Julio Velardi will continue to lead the BCR for another five years,” noted economic daily Gestión, adding that the three directors proposed by the executive are economists Roxana Barrantes, José Távara and Germán Alarco, other media outlets also noted outside.

La República added that the appointments will become official in the next few hours, although they must later be confirmed by Congress, which must also appoint three more BCR directors to a five-year term, an issue under review by the legislature’s economy committee.

Velardi, who has headed the BCR since 2006, is a 69-year-old economist who holds master’s and doctoral degrees from Brown University in the United States, and the Institute for World Economics in Kiel, Germany.

In addition to being recognized in his country for his successful work at the presidency of BBK, in 2015 he was awarded the Best Central Banker in the World by The Banker magazine, which also elected him in 2020 as the Best Central Bank in the World. Central Bank of the Americas General.

The economist continued his duties during the current government, which began on July 28, pending official confirmation of his mandate by President Pedro Castillo, who had already submitted his intention to ratify it before taking office.

In the case of the three directors elected by the government, Barantes is an economist who graduated from Pontificia Universidad Católica del Perú (PUCP), a PhD from the University of Illinois (USA) and director of a master’s degree in economics from PUCP.

Tavara is also an Economist from PUCP, an Industrial Engineer and a Ph.D. from the University of Massachusetts (USA), a degree in Economics from the University of the Pacific and a Master’s degree from the Center for Economic Research and Teaching, Mexico.

The Minister of Economy and Finance, Pedro Franck, told La República this week that Velardi had already accepted Castillo’s offer, but had not yet elected the three directors from the BCR who align with the executive.

Frank said the leftist Castillo government agreed with Velardi that the issuing body’s board of directors should not have a “sectarian political standard” and be made up of “completely honest people, without any taint of corruption”. EFE

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