Vice President Velázquez stated that the Executive Branch is working on a bill that allows Congress to maintain the original proposal on the elimination of banking secrecy.
“The BCP has the impossibility of reporting directly on the determined persons, because in the Senate itself the bill sent by the Executive had been modified in which that impossibility did not exist,” said Velázquez.
Given this situation, financial experts maintain that banking secrecy serves to stabilize the Paraguayan economy, so its elimination will cause irreversible damage: it can discourage investment or cause a stampede of investors based in our country.
One of those who stated that the economist and former Minister of Finance, César Barreto, who told the channel Gen – Nación Media, that the importance of banking secrecy lies in the stabilization of the economy and that this duty of secrecy or reserve has exceptions when this concealment can be lifted, as when the Judiciary, Prosecutor’s Office, SET, Comptroller’s Office and Customs request reports.
Barreto added that in the case of eliminating this restriction, it would generate concern among citizens, as all their financial data would be exposed. “That can cause people to take their money to other countries, as has happened in other years. That is the critical part of the issue, ”he said.
The entrance Velázquez proposes to “abolish” bank secrecy: they warn of risks was first published in diary TODAY.
