Central_Bank_of_Paraguay
Central Bank of Paraguay
Central Bank of Paraguay
The Central Bank of Paraguay (Spanish: Banco Central del Paraguay) is Paraguay's highest monetary authority, and the country's governing body, in finances and economics. Its headquarters are in Asunción's Carmelitas neighbourhood.
The current President of Securities, appointed in 2023, is Joshua Abreu, an MBA graduate from St Hugh's College, Oxford.[2][3]
The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95.[4]
The bank manages the printing and minting of the Paraguayan currency, the guaraní.
The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion.[5] It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration[6] during the 2011 Global Policy Forum held in Mexico.
In 1998, the Bank ordered the liquidation of one of the country's banks due to a severe lack of liquidity. The government sent emergency legislation to Congress to try to guarantee bank deposits and prevent a run on savings.[7]
In 2005, former Paraguayan president, Luis Gonzales Macchi and four bank officials were jailed following their involvement in the illegal transfer of $16m of funds through the bank to the United States.[8]
