The Executive Branch on Friday formalized the ratification of Julio Emilio Velarde Flores as Chairman of the Board of Directors of the Central Reserve Bank (BCR).
Velarde currently presides over the BCR, a position he has held since October 2006.
The resolution's recitals state that the Executive Branch is responsible for appointing four members of the BCR's Board of Directors, including its chairman, who will be ratified by Congress.
The legal provision is signed by the President of the Republic, Keiko Fujimori Higuchi, Prime Minister Luis Galarreta Velarde, and Economy and Finance Minister Elmer Cuba Bustinza.