JPRM-2024-014-G — Approve the Management Report of the General Manager of the Central Bank of Ecuador for 2023

RESOLUTION No. JPRM-2024-014-G
MONETARY AND FINANCIAL POLICY BOARD

CONSIDERING:

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

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

That, Article 47.1 of the Organic Monetary and Financial Code created the Monetary and Financial Policy Board as part of the Executive Function, responsible for formulating monetary policy, as the highest governing body of the Central Bank of Ecuador, which will implement this policy;

That, Article 47.6 of the aforementioned Code, regarding the functions of the Monetary and Financial Policy Board, among others, establishes: "(…) 1. Formulate policy in the monetary sphere and observe its application by the Central Bank of Ecuador, to preserve the integrity and sustainability of the dollarization monetary system and the financial system, in accordance with the provisions of this Code; (…) 5. Establish the policies of the Central Bank of Ecuador and supervise their implementation; 6. Monitor compliance with the functions of the Central Bank of Ecuador; 7. Formulate the policy for the operations of the Central Bank of Ecuador; (…) 22. Appoint the General Manager and supervise their management; (…) and 26. Those others conferred by law";

That, numeral 5 of Article 49 of the same prescribes, among the functions and attributes of the General Manager of the Central Bank of Ecuador, the duty to "(…) 5. Report to the Monetary and Financial Policy Board, annually or when required, the results of the management; (…)"

That, the Monetary and Financial Policy Board, in an ordinary session held in person on August 7, 2024, reviewed the Management Report of the General Manager of the Central Bank of Ecuador, corresponding to the year 2023, submitted via memorandum No. BCE-BCE-2024-0159-M, dated July 19, 2024, to the President of the Monetary and Financial Policy Board; and,

RESOLUTION No. JPRM-2024-014-G

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In exercise of its functions and in accordance with Article 47.7 of the Organic Monetary and Financial Code, the Monetary and Financial Policy Board,

RESOLVES:

Article 1.- Approve the management report of the General Manager of the Central Bank of Ecuador, corresponding to the year 2023.

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

Its publication on the institutional website is entrusted to the General Secretariat of the Central Bank of Ecuador.

NOTIFY.- Given in the city of Quito, Metropolitan District, on the 7th day of the month of August, 2024.

THE PRESIDENT
Dr. TATIANA MARIBEL RODRÍGUEZ CERÓN

The aforementioned resolution was signed by Dr. Tatiana Maribel Rodríguez Cerón, in her capacity as President of the Monetary and Financial Policy Board, in the Metropolitan District of Quito, on August 7, 2024.- I CERTIFY.

ADMINISTRATIVE SECRETARY
Attorney MARÍA ALEXANDRA GUERRERO DEL POZO