Workers of the Central Bank of Paraguay (BCP) sent a note to the President of the Republic, to express their disagreement with the possible appointment of the economist Carmen Marín as a member of the board of directors of the parent bank.
The pronouncement is in rejection of the request for a constitutional agreement sent to the Senate, where Carmen Marin, an official with permission from the Ministry of Finance, is proposed as a member of the BCP Board of Directors.
The workers consider that a clear conflict of interest is created between the functions of the Central Bank and those that it develops in the Ministry of Finance, and to the “detriment of honest professionals in Monetary Policy and the functioning of the parent bank, quality. that can only be found in career officials”.
However, they clarify that they have no questions about the “academic profile, technical solvency or professional ethics” of the candidate, but the interpellation is due to the worrying trend that has materialized in recent years from the Executive Branch, where In a sustained manner, the Ministry of Finance has been getting involved in areas that by their nature are the exclusive discretion of the BCP, such as its budget, its power to make changes to the structure.
They also indicate that putting BCP’s independence at risk will negatively affect the institution’s credibility. “It represents the most important asset that the Parent Bank has to ensure monetary stability, which is one of the main achievements of the Paraguayan people and has allowed us to stand out in the region for having one of the most oldest from South America, which will be 80 years old in 2023.”
