ECUADOR

On October 12, the plenary of the National Assembly appointed and sworn in the new members of the Monetary Policy and Regulation Board and the Financial Policy and Regulation Board. This is in compliance with the Reform Law to the Organic and Financial Code for the Defence of Dollarization, which established that the current Policy and Regulatory Board would be split into two. The law also stipulates that the members of the Monetary Board will have staggered terms in office, while the members of the Financial Board will complete a four-year term. The new officials are already in offic

The law states that the Monetary Policy and Regulation Board will be in charge of formulating monetary policy for the Central Bank of Ecuador (BCE) implementation. The names chosen for this Board are: 

• Tatiana Rodríguez Cerón (four-year term) – Lawyer and Doctor of Jurisprudence. She holds a Master’s degree in Business Law from the Catholic University of Chile. In the public sector, she worked as legal coordinator of the Central Bank.
• Katia Garzón Alvear (three-year term) – Economist from the Catholic University of Ecuador, and holds a Master’s degree in Business Economics from Incae Business School. Within the Superintendency of Popular Economy she served as National Director of Prevention and Money Laundering and Risk Intendant.
• Wilson Oviedo (two-year term) – Matematician from the National Polytechnic School, and Master in Economics from the Latin American Faculty of Social Sciences. From 1996 to 2009 he held several positions in the Central Bank as Economist, Director of Economic Research and Long-Term Policies.

Meanwhile, for the Financial Policy and Regulation Board, in charge of setting policy in the areas of credit, finance, insurance and securities, the appointed are:

• María Paulina Vela Zambrano – Economist from the Pontifical Catholic University of Ecuador, and Master in Development Economics from Williams College (Massachusetts, USA). The new official has been president of Firuzecorp (since 2011). Within the Central Bank she worked in the Economic Policy Directorate (1996-2000), and was also coordinator of Balance of Payments in the External Policies Sub-Directorate (1995-1996) and coordinator of Monetary Policy (1993-1995).
• Iván Eduardo Velástegui – Master’s degree in senior management from the University Rey Juan Carlos; and economist from the Technological Autonomous Institute of Mexico. At the Central Bank he was Director of Financial Risks and Director of the Financial and Administrative Asset Recovery Office.
• Catalina Pazos Chimbo – Economist from the Pontifical Catholic University of Ecuador, Master of Business Administration, Oklahoma. At the Superintendency of Banks she held the position of Director of Normality, and at the Ministry of Economy she served as Strategic Coordinator of Insurance and Securities Market.