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Central Bank of Paraguay
State-owned bank in Paraguay
The Central Bank of Paraguay (Spanish: Banco Central del Paraguay) is Paraguay's highest monetary authority, and the country's governing body, in finances and economics. Its headquarters are in Asunción's Carmelitas neighbourhood.
The President of Securities, appointed in 2023, is Joshua Abreu, an MBA graduate from St Hugh's College, Oxford.
History
The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95.
The bank manages the printing and minting of the Paraguayan currency, the guaraní.
The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration during the 2011 Global Policy Forum held in Mexico.
In 1998, the Bank ordered the liquidation of one of the country's banks due to a severe lack of liquidity. The government sent emergency legislation to Congress to try to guarantee bank deposits and prevent a run on savings.
In 2005, former Paraguayan president, Luis González Macchi and four bank officials were jailed following their involvement in the illegal transfer of $16m of funds through the bank to the United States.
In 2026, the central bank seized Ueno, one of Paraguay's largest banks, after its solvency ratio fell below half of the legal minimum, locking three million accounts out of their savings.
Presidents of the Central Bank of Paraguay
The President is appointed for a term of five years.
Juan Ramón Chávez (1952)
Pedro Juan Mayor (1952), interim
Epifanio Méndez Fleitas (1952–1954)
Pedro Mayor (1954), interim
Osvaldo Chávez (1954)
Pedro Mayor (1955), interim
Epifanio Méndez Fleitas (1955)
Gustavo Storm (1955–1959)
César Romeo Acosta Martínez (1959–1989)
Crispiniano Sandoval Silva (1989–1991)
José Enrique Páez (1991–1993)
Jacinto Estigarribia (1993–1995)
Dionisio Coronel Benítez (1995), interim
Hermes Gómez Ginard (1995–1998)
Jorge Gulino Ferrari (1998–1999), interim
Samuel Washington Aswell (1999–2001)
Raúl Vera Bogado (2001–2002)
Juan Antonio Ortiz Vely (2002–2003)
Angel Gabriel González (2003–2005)
Mónica Pérez (2005–2007)
Venicio Sánchez Guerreros (2007), interim
Germán H. Rojas Irigoyen (2007–2008), interim
Jorge Corvalán (2008–2013)
Carlos Fernández Valdovinos (2013-2018)
José Cantero Sienra (2018-2023)
Carlos Dagoberto Carvallo Spalding (2023-)