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In his first statement after being elected as the new manager of the Bank of the Republic, Leonardo Villar indicated that he will arrive with all the energy to ‘build on the built’, as, according to his words, is tradition in that entity.
From Washington, where he represents Colombia before the International Monetary Fund (IMF), Villar made his statement via streaming, just over an hour after being elected through the vote of the co-directors of the Issuer.
(Context: Leonardo Villar Gómez, new manager of the Banco de la República)
The new manager, who will assume the position in January, thanked the co-directors and stated that “going back is something that fills me with enthusiasm” since at the institution he was also a member of the board of directors for 12 years.
“It has always been an institution that generates credibility,” said Villar, and stressed that it is loved by Colombians.
“Succeeding Juan José Echavarria – my teacher, colleague and friend is a great honor”, as well as the previous managers, Miguel Urrutia and José Darío Uribe.
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The Bank of the Republic, he said, “has been characterized by building on what has been built,” and its expectation is to continue moving in the same direction.
He also expressed his gratitude to President Iván Duque and the Minister of Finance, Alberto Carrasqulla, for having entrusted him with the representation of Colombia before the IMF, which also meant that the country had representation for the first time as a main member of the Executive Board of the Fund, acting In addition, on behalf of Mexico, Spain, Venezuela and four Central American countries.
The joint work of the Banco de la República and the Ministry of Finance allowed the disbursement of important resources from the IMF
Villar said that “the joint work of the Banco de la República and the Ministry of Finance allowed the disbursement of important IMF resources”, necessary to meet the requirements generated by the pandemic.
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He thus referred to the 5.4 billion dollars of the Flexible Credit Line lent to Colombia by the Fund, a line to which the country has been entitled for a decade but to which it was resorted for the first time.
“For now I just want to say that my energies are to do my best, “concluded Villar, and he pointed out that he will have more extensive words when he is in office, at which time he will refer to the entity’s own affairs such as monetary policy.
For his part, the acting manager, Juan José Echavarría, said that “Leonardo is one of the most outstanding economists in the country. I have the great honor of having been his professor at the Universidad delos Andes and, as always, it is a great satisfaction that the student surpasses the teacher “.
He added that Villar “It is a total guarantee of the Bank’s independence for the next 4 years.”
Economy and business
