“The Bank has been attacked”: BanRep manager in front of Petro’s criticisms

Valora Analitik The minutes of the most recent Board of Directors of the Bank of the Republic, last Monday, March 31, warn that the context of uncertainty surrounding the public finances of the country constitutes a factor of weight that increases the country's risk, and reduces the margin of manoeuvre of the monetary policy. Recommended: The message of independence sent by the Bank of the Republic after maintaining interest rates Particularly, …

The board of the Banco de la República maintained the rate at 9.5%, a technical decision that Petro politicized. Bank autonomy is key to economic stability The Petro article and its discontent with the directors he put in the Banco de la República was originally published in Las2orillas. Copyrights Las2orillas.co

The manager of the Banco de la República, Leonardo Villar, came out in defense of the institutionality and autonomy of the Board of Directors of the Issuer, responding to the assertions of the President of the Republic, Gustavo Petro, about alleged political motivations in the decision to keep interest rates stable during the meeting last March 31. “My reaction to these unions is of strong support to the institutionality of a Board that acts wit…

Leonardo Villar referred to President Petro’s remarks in an interview with Bloomberg. In it, he explained the Bank of the Republic’s decision to maintain the interest rate and mentioned that: “the Bank has been attacked, and has been asked to take different actions in several moments of history.” Interest rate remains at 9.5%. The decision goes against the government’s proposals for a 5% reduction. Faced with the refusal, Petro attacked the Coun…