ECUADOR

The President of Ecuador, Guillermo Lasso, appointed Guillermo Avellán as the new General Manager of the Central Bank of Ecuador (BCE), in replacement of Verónica Artola. Prior to this appointment, Avellán had been appointed by Lasso as his delegate to chair the Debt and Financing Committee. The new manager had already been part of the BCE as an analyst and negotiator and, since 2018, has been the Research Director of Ecuador Libre. Avellán is already in office.

The officer is a graduate economist from the University of Richmond and holds a master’s degree in Specialised Economic Analysis from the School of Economics in Barcelona, Spain. In his professional life he has received awards from the Stock Market Specialisation Program, Omicron Delta Epsilon Honor Society, Peter Wallenstein Award, David D. Burhans Civic Fellowship, Rowe Fund Loan and Scholarship for Academic Excellence at Tecnológico de Monterrey.

It should be pointed out that Avellán will hold the position of manager until the new Monetary and Financial Boards are formed, in accordance with the Dollarisation Defence Law. These boards will have the authority to ratify his appointment or, by default, to appoint another person. For its part, the government must send the names of the new members of both boards to the National Assembly. It will be up to the Legislative to approve or reject the proposed names.