Resolution JPRM-2022-021-A Accepting the Resignation of the General Manager of the Central Bank of Ecuador

MONETARY POLICY AND REGULATION BOARD Resolution No. JPRM-2022-021-A

THE MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador stipulates that public officials and persons acting by virtue of state authority shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 of the same Constitution states that the Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, the first paragraph of Article 303 of the Constitution of the Republic determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive faculty of the Executive Branch and will be implemented through the Central Bank of Ecuador;

That, Article 47.1 of the Organic Code of Money and Finance created the Monetary Policy and Regulation Board as part of the Executive Branch, responsible for the formulation of monetary policy, the highest governing body of the Central Bank of Ecuador, and determines its composition;

That, Article 47.6, numeral 22, of the same Code, regarding the functions of the Monetary Policy and Regulation Board, among others, establishes: "22. Appoint the General Manager and supervise their management;";

That, Article 51 supra determines: "Officials, employees, and workers of the Central Bank of Ecuador shall be subject to the provisions of the Organic Law of Public Service and the Labor Code, as applicable.";

That, Article 47 of the Organic Law of Public Service states that a public official shall cease definitively from their functions, among other reasons, by voluntary resignation formally presented;

That, Article 102 of the General Regulation to the Organic Law of Public Service, regarding the cessation of functions by voluntary resignation, states: "The official who voluntarily wishes to separate from their position must communicate in writing to the nominating authority their decision at least fifteen days in advance of their departure date. If the nominating authority does not pronounce itself regarding the same within said period, it shall be considered accepted for the pertinent legal purposes. The nominating authority may accept the resignation immediately after it is presented. (...)";

That, through Memorandum No. BCE-GG-2022-031-M, dated September 9, 2022, received by the Administrative Secretariat of the Monetary Policy and Regulation Board on the same date, Mr. Guillermo Enrique Avellán Salines presented his voluntary resignation from the position of General Manager of the Central Bank of Ecuador, attaching his management report;

That, the Monetary Policy and Regulation Board, in an extraordinary in-person session on September 12, 2022, reviewed the aforementioned Memorandum No. BCE-GG-2022-031-M, dated September 9, 2022;

In exercise of its functions and in accordance with Article 47.7 of the Organic Code of Money and Finance, the Monetary Policy and Regulation Board:

RESOLVES

Art. 1.- Accept the voluntary resignation formally presented by Mr. Guillermo Enrique Avellán Salines, and approve his management report, to whom gratitude is expressed for the valuable services rendered to the country, in his capacity as General Manager of the Central Bank of Ecuador.

Art. 2.- Entrust the General Manager position of the Central Bank of Ecuador to Mr. Jorge Alberto Ponce Donoso, until the appointment of its permanent holder by the Monetary Policy and Regulation Board.

GENERAL PROVISION.- The General Management of the Central Bank of Ecuador shall arrange for the performance of all acts necessary for the implementation of what has been resolved, complying with the established norms and procedures.

FINAL PROVISION.- This resolution shall enter into force from its issuance, without prejudice to its subsequent publication in the Official Register.

Publication in the institutional website is entrusted to the Directorate of Documentary Management and Archives of the Central Bank of Ecuador.

NOTIFY.- Given in the Metropolitan District of Quito, on September 12, 2022.

MONETARY POLICY AND REGULATION BOARD THE PRESIDENT

Republic of Ecuador

Resolution No. JPRM-2022-021-A Page 1 2

Dra. TATIANA MARIBEL RODRÍGUEZ CERÓN

The resolution above was signed by Doctora Tatiana Maribel Rodríguez Cerón - President of the Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on September 12, 2022.- I CERTIFY.

NORA GUERRERO DEL POZO