Regulatory Alerts2021-01-01 | JPRM-2021-001-AJPRM-2021-001-A — Designation of the President and Acting President of the Monetary Policy and Regulation Board
The Monetary Policy and Regulation Board of Ecuador issued Resolution JPRM-2021-001-A to formally appoint Dr. Tatiana Maribel Rodríguez Ceron as President and Economist Katia Paulina Garzón Alvear as Acting President. These appointments were made during the Board's ordinary session on October 14, 2021, following the designation of its members by the National Assembly. Both officials were elected for a two-year term, with the resolution taking effect upon signature.
[Logo: Republic of Ecuador]
Monetary Policy and Regulation Board
RESOLUTION No. JPRM-2021-001-A
THE MONETARY POLICY AND REGULATION BOARD
CONSIDERING:
That, the Constitution of the Republic of Ecuador, in Article 226, prescribes: "(...) public servants and persons acting by virtue of state authority shall exercise only the competencies and powers attributed to them in the Constitution and the law. They shall have the duty to coordinate actions for the fulfillment of their purposes (...)";
That, Article 303 ibid determines that "monetary, credit, exchange, and financial policy is the exclusive authority of the Executive Branch and shall be implemented through the Central Bank.";
That, through the Organic Law Reforming the Organic Code of Monetary and Financial Law for the Defense of Dollarization, published in the Official Register Supplement No. 443 of May 3, 2021, the Organic Code of Monetary and Financial Law was reformed;
That, pursuant to Article 47.1 of the reformed Organic Code of Monetary and Financial Law, the Monetary Policy and Regulation Board is created "as part of the Executive Branch, responsible for formulating monetary policy, as the highest body of the Central Bank of Ecuador who will implement this policy.";
That, the same Article 47.1 of the aforementioned Code determines that the Monetary Policy and Regulation Board must elect, from among its members, the President and their substitute;
That, Article 53 of the Organic Administrative Code, regarding the legal regime of collegiate bodies, establishes that these shall be subject to what is provided in their specific regulation and to said Code;
That, the Plenary of the National Assembly, on October 12, 2021, designated and sworn in the members of the Monetary Policy and Regulation Board;
That, the Regulation and Monetary Policy Board, in Ordinary Session No. 001/2021 held on October 14, 2021, met to elect the President and Acting President of the aforementioned Board; and,
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[Logo: Republic of Ecuador]
Monetary Policy and Regulation Board
In exercise of its functions and attributions,
RESOLVES
Article 1.- Elect Dr. Tatiana Maribel Rodríguez Ceron as President of the Monetary Policy and Regulation Board, for a term of two (2) years.
Article 2.- Elect Economist Katia Paulina Garzón Alvear as Acting President of the Monetary Policy and Regulation Board, for a term of two (2) years.
FINAL PROVISION.- This Resolution shall enter into force from its signature, without prejudice to its publication in the Official Register.
COMMUNICATE.- Given in the Metropolitan District of Quito, on October 14, 2021.
[Signature] DR. TATIANA MARIBEL RODRÍGUEZ CERON MEMBER OF THE MONETARY POLICY AND REGULATION BOARD
[Signature] ECON. KATIA PAULINA GARZÓN ALVEAR MEMBER OF THE MONETARY POLICY AND REGULATION BOARD
[Signature] DR. WILSON AMADEO PÉREZ OVIEDO MEMBER OF THE MONETARY POLICY AND REGULATION BOARD
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