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State-owned bank in Paraguay From Wikipedia, the free encyclopedia
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.
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Headquarters | Asunción |
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Coordinates | 25.278°S 57.576°W |
Established | March 25, 1952 |
Ownership | 100% state ownership[1] |
President | Carlos Dagoberto Carvallo Spalding |
Central bank of | Paraguay |
Currency | Paraguayan guaraní PYG (ISO 4217) |
Reserves | 5 480 million USD[1] |
Website | www |
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]
The President is appointed for a term of five years.
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