Today the Board of Directors of the Banco de la Republica chose the economist, Leonardo Villar Gómez, to be the new Governor of the Bank to replace Dr. Juan José Echavarría, who will be in office until January 3, 2021.
The appointed Governor currently serves as Alternate Executive Director - OEDCE, at the International Monetary Fund (IMF). He is an economist from the University of the Andes and has a master's degree in Economics from the same university. He also studied for a Ph.D in Economics at the London School of Economics. Leonardo Villar was the Executive Director of Fedesarrollo and the Chief Economist and Vice President of Development Strategies and Public Policies of the Development Bank of Latin America (CAF). He also served as Technical Vice-Minister of the Ministry of Finance and Public Credit and as a Consultant for the Inter-American Development Bank (IDB).
Between 1997 and 2009, Leonardo Villar Gómez was a member of the Board of Directors of the Banco de la Republica.
In the wake of this election, the Board of Directors of the Banco de la Republica thanked Dr. Echavarría for his work as Governor during these four years, a period of time in which the Bank made progress in modernization and efficiency processes, and maintained the international and local reputation of the Bank.