Leonardo Villar would go for reelection: he wants to continue in the management of Banrep

The Bank of the Republic responded to the rumors that circulated in the last few hours, about its manager Leonardo Villar seeking re-election to remain in office for four more years and maintained that it is not true. that this topic has been discussed so far among the heads of the monetary authority.

The issuer indicated that this is a decision that must be made by its Board of Directors no later than November 30 of this year, but that neither Villar nor the co-directors have made any statement on the matter. They also stated that when there is a decision on the merits, it will be announced in a timely and transparent manner.

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It all started with information from Bloomberg Line, which indicated that Leonardo Villar had already told the heads of the institution that he wants to continue in the position, so his name would enter in the deck of candidates. However, with the recent announcement, the issue is refuted.

It should be noted that the maximum time that can be served as manager of the Banco de la República is 12 years and in the case of Villar, only four have been served, since he entered in 2020 and assumed office in January 2021. Thus, the current manager would have the possibility open for two more re-elections, although he has not yet shown his intention to do so, according to the Issuer.

Leonardo Villar, who is also considered a heavyweight in the economy, Before beginning his current duties, he worked for two years at the International Monetary Fund as Executive Director of the chair that represents Colombia, together with Spain, Mexico, Venezuela, Costa Rica, El Salvador, Guatemala and Honduras.

He was also Executive Director of Fedesarrollo for seven years, between 2012 and 2018, and there he was part of the Commission of Experts for structural tax reform that presented its recommendations in 2015 and of the Commission for the Study of Public Spending and Investment in Colombia that submitted its report to the National Government in April 2018.

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According to data from the Bank of the Republic, his merits also include being a member of the Advisory Committee for the Fiscal Rule and before becoming the director of Fedesarrollo, he was Chief Economist and Vice President of Strategies. Development and Public Policies of CAF-Development Bank of Latin America.