Who We Are


 The Board of Directors of the Banco de la República consists of seven members with one vote each: the Minister of Finance, five full-time members and the General Manager of the Bank, who is appointed by the other members. Full-time members and the General Manager are appointed for fixed periods of four years, twice renewable, which means they can remain on the Board for up to twelve (12) years. The President of the Republic replaces two of the full-time members every four years, halfway through the presidential period.

 

According to the Political Constitution the Banco de la República is independent from the other branches of public power, enjoys administrative, heritage and technical autonomy and is subject to its own legal regulation. The Board of Directors is the country’s monetary, exchange and credit authority and its members exclusively represent the Nation’s interests.

 

The Constitution conferred the Banco de la República with the objective of safeguarding the maintenance of currency purchasing power and for this purpose the Board of Directors carried out the various functions established by the Constitution and the Law.

 

Additionally, full time members of the Board are also members of the Administrative Council, the Bank’s main administrative body, and are responsible for adopting administrative policies and for ensuring the Bank’s correct procedures, as determined by the Law and the Bank’s Statutes.

 

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This content has been translated into English for informational purposes. Upon any query regarding its interpretation or enforceability, the Spanish version shall be deemed official, and will prevail over the English version. The authors of specific texts such as working papers or articles select the language of publication; therefore, there might be cases in which the content may only be available in English. Este contenido ha sido traducido al inglés con fines informativos. En caso de duda sobre su interpretación y/o aplicación, se entenderá que la versión en español es la versión oficial y prevalecerá sobre aquella en inglés. Para casos particulares como documentos de trabajo o artículos, el idioma original de publicación es escogido por el autor, por lo cual puede haber casos en los que el contenido esté disponible sólo en inglés.