Leonardo Villar was re-elected for a new period as manager of the Issuer

The board of directors of the Bank of the Republic, unanimously decided that Leonardo Villar will continue, for four more years, as the general manager of the Issuer.

Villar came to office in January 2021 and Your new period will be updated on January 4, 2025, which will go until January 2029.

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Leonardo Villar is an economist at the University of the Andes and has a master’s degree in Economics from the same institution, as well as from the London School of Economics, where he also completed doctoral studies in Economics.

After the election was made official, the Minister of Finance, Ricardo Bonilla, He said the board’s decision regarding Villar demonstrates “support for the continuity of the institutionality“.

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The board had until November 30 to make a decision on its manager.

With this new period, Villar will accumulate two of the three (12 years maximum) that anyone who wants to be manager of the Banco de la República can aspire to.

Villar’s resume

Leonardo Villar is considered a heavyweight in the economy. Before beginning his current duties, he worked for two years at the International Monetary Fund as Executive Director of the chair that represents Colombia, together with Spain, Mexico, Venezuela, Costa Rica, El Salvador, Guatemala and Honduras.

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He was also Executive Director of Fedesarrollo for seven years, between 2012 and 2018, and there he was part of the Commission of Experts for structural tax reform that presented its recommendations in 2015 and the Commission for Studies of Public Expenditure and Investment in Colombia which delivered its report to the National Government in April 2018.

According to data from the Bank of the Republic, among its merits it also stands out that He was a member of the Advisory Committee for the Fiscal Rule and before coming to the management of Fedesarrollo, he was Chief Economist and Vice President of Development Strategies and Public Policies of CAF (Development Bank of Latin America).

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