The former presidents Joaquin Balaguer, Leonel Fernandez and Danilo Medina had something in common when they directed the destinies of the Dominican Republic: they bet on the work of the governor of the central bank, Hector Valdez Albizu.
President Luis Abinadertwo years into his government, has emulated Balaguer, Fernández and Medina by ratifying Valdez Albizu in said banking entity, which means that the governor arrives at his 24 years at the head of the aforementioned financial institution.
After in 1993 the official he was as administrator of the Reserve Bank, Balaguer appointed him governor of the Central Bank and from that date he was only out for four years (2000 to 2004, in the management of Hipólito Mejía).
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Since 2004 Valdez Albizu has been in that institution uninterruptedly monetary.
Is there no other person to run the Central Bank?
Before Abinader decreed that Valdez Albizu will continue as governor of the Central Bank, several sectors of the politics and civil society wondered if there is no other person who can take command in that body.
How long should a Governor of the Central Bank last?
The Monetary Law of the Dominican Republic contemplates the approval and appointment of the Monetary Board, of which the Governor is a member, and they will be appointed for a period of two years, renewable by the President of the Republic.
About Valdez Albizu
The Governor of the Central Bank was born in Santo Domingo on November 10, 1947. He is married to Mrs. Fior D’Aliza Martínez de Valdez and they have a son, Héctor Manuel.
He graduated in Economics in 1971 from the Autonomous University of Santo Domingo and has done dozens of specialties in the economic area.
Awards
Some of the awards that they have delivered to the governor of the Central Bank, are
The Medal of Merit of the Public Servant, Dominican Republic, 1996; Gaucho Rioplatense award, Revista Dirigencia, within the framework of the XXVII Assembly of Governors of the Inter-American Development Bank (IDB), held in Buenos Aires, Argentina, 1996; Economist of the Year 1997, Dominican College of Economists of the Dominican Republic (CODECO); The Banker of the Year 1998, Listín Diario Newspaper, 1998; Boss of the Year, Dominican Association of Secretaries, 1999; 500 Personalities of the Financial World, Who’s Who’s Encyclopedia, United States of America, 1999; Governor of the Year 2006 for the Americas region by The Banker magazine.
Likewise, the Dominican government awarded him the Decoration of the Order of Merit of Duarte, Sánchez and Mella, in the degree of Officer (2012), the highest distinction that the Dominican Republic grants to its outstanding nationals. In addition, in 2017 he received the “Global Finance Central Banker Report Card Grade A” from Global Finance magazine, which was awarded to only four governors or presidents of central banks in the Latin American and Caribbean region;
“Governor of the Year for the Caribbean region”awarded by Global Markets magazine (2017).
Likewise, in 2018 it received a recognition from the prestigious international publication Capital Finance International that highlights the Central Bank of the Dominican Republic as the organization that performed the best corporate governance in Central America and the Caribbean, based on the independent execution of its macroeconomic policy.
In 2019, the Chilean government awarded him the Bernardo O’Higgins Order Award in the Great Official degree, the highest distinction awarded by the Chilean State to a foreigner who has distinguished himself for his contributions to humanity.
In 2021, the Senate of the Republic He was awarded recognition for his great work as Governor of the Central Bank. And Pan Finance magazine awarded him as Governor of the Central Bank of the Year 2021, Latin America region.
