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The Government of Argentina Appoints a New Director of the Central Bank
- Publisher:
- 10:11:42 2018-07-12 / Xinhua
BUENOS AIRES, July 11 (Xinhua) – The Argentine government on Wednesday formalized the appointment of Pablo Quirno Magrane as the new director of the Central Bank (BCRA), a position that complements the board's management Monetary entity the arrival of its owner, Luis Caputo, last June.
Through the Official Gazette, the Executive informed that the Argentine Senate had approved the nomination at the request of President Mauricio Macri and had received the signature of the Minister of Finance and Finance. , Nicolás Dujovne
Quirno served until June last as head of the cabinet of the Ministry of Finance before being merged with the Treasury Portfolio. He has more than 25 years of experience in the financial field.
The new director graduated in economics from the Wharton School of the University of Pennsylvania in the United States and advised governments and companies in the United States, Asia, Europe and Latin America
Last June, the composition of the BCRA changed after the resignation of the former holder, Federico Sturzenegger, in the midst of a high volatility of the exchange rate which led to a dollar appreciation of more than 30% . Given the complex panorama that the foreign exchange market is facing since May, the new board of directors of the BCRA has applied measures such as increasing bank reserves, maintaining the interest rate High reference and reduction of
In addition, under the agreement between Argentina and the International Monetary Fund (IMF) for the acquisition of With a credit of 50 000 million of dollars, the BCRA has started daily supply in foreign currency which will reach a total of about $ 7,500 million from the financial institution in order to calm the market. End
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