Andina

Peru's Fin Min: Velarde to remain leading Central Reserve Bank

Photo: ANDINA/Vidal Tarqui

Photo: ANDINA/Vidal Tarqui

11:14 | Lima, Sep. 24.

Economy and Finance Minister Pedro Francke has affirmed that Central Reserve Bank (BCR) Governor Julio Velarde will continue to lead the issuing entity, and that the institution's board of directors is yet to be completed.

"As I have said several times, the President of the Republic (Pedro Castillo) long ago invited Central Reserve Bank Governor, Julio Velarde, to remain in the post," Francke said in remarks to TVPeru on Thursday night.

"Last Friday, when we were abroad, Julio Velarde said in a press conference that he would accept (…)," he added.

According to the Cabinet member, "the only thing we need to do is complete the board of directors because, as Julio Velarde has properly said, the Government of the Central Reserve Bank actually corresponds to a board of directors."

In this sense, he indicated that the board of directors must be designated upon agreement by the Executive and Legislative Branches, involving technocrats who can generate good governance at the Central Reserve Bank.

Likewise, the head of the Ministry of Economy and Finance (MEF) affirmed that efforts will be made to complete the BCR's board of directors next week.

"That is the task we have ahead for next week, to complete (the board)," he emphasized.

Moreover, the high-ranking official mentioned that Peru’s economy "has been growing strongly," adding that MEF's projection for 2021 (10.5% GDP growth) "has been exceeded" by BCR's recent forecast of 11.9%.

"The economy is recovering at good pace, and I believe that all these small political noises will be resolved. The essential matter is to allow the Government and Congress to reach a good agreement, and I believe that there is willingness on both sides," he concluded.

(END) MVB

Published: 9/24/2021