March 5, 2021

The new president of the Central Bank of Paraguay will maintain monetary policy

The new president of the Central Bank of Paraguay will maintain monetary policy



The new president of the Central Bank of Paraguay (BCP), José Cantero, said today in his inauguration of the position that will maintain the monetary policy of the entity, based on inflation goals that guarantee price stability and a monetary exchange rate. stable.

In his speech, Cantero indicated that he intends to move forward in the implementation of a "supervision system" to the financial system "based on risks" and that he will bet on the banking of the economy and the digitalization of banking instruments, according to a press release. Presidency of the Republic.

Cantero stressed, before the Paraguayan leader, Mario Abdo Benítez, who accompanied him on the spot, the economic expansion that the country has been experiencing in the last fifteen years, with an average annual GDP growth of 4% and which, he said, are product of "monetary, financial and fiscal stability policies".

Policies that he considered "the best foundation to build a prosperous and safe country project", for which he announced his continuity as head of the supervisory body.

He also showed his intention to strengthen the institution and equip it with a more and more technical team.

The Minister of Finance, Benigno López, who also attended the inauguration of Cantero, stressed that his appointment will allow Paraguay to have "a different, responsible, independent and serious Central Bank" that, together with a responsible treasury, will make the country is "leader in the region".

Lopez said that the new leader of the BCP "will improve everything that needs to be improved" and reiterated that it will deepen all its policies.

Stonecutter, economist, acceded to the BCP in 1996 as an economic analyst, to later go to different divisions of finance and monetary studies.

In addition, he has experience in the public sector, where he worked as an economic adviser to the Vice President of Paraguay.

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