Cabal, UNE and Samuel Pérez are fighting for a position on the Monetary Board – 2024-03-13 15:10:21

For the session this Thursday, March 14, the deputies plan to elect the titular and alternate representative before the Monetary Board. On March 5, the president of the Congress of the Republic, Nery Ramos, published the names of the six candidates for the position.

The list is made up of: Henry Estuardo Castillo, who was the titular representative of the University of San Carlos of Guatemala; Fernando Linares-Beltranena, former deputy of the defunct National Advancement Party; Samuel Pérez, elected as congressman by the Semilla Movement; Manuel Archila from the Cabal block; Luis Javier López representative of the National Unity of Hope (UNE) bench; and Cristian Rodolfo Álvarez from Commitment to Renewal and Order (Creo).

But it is the legislators Pérez, Archila and López who dispute the ownership and substitution of the position. Although according to Legislative sources, the failure of the Executive to comply with agreements with the benches keeps Samuel Pérez from occupying the position.

“I ran,” said Pérez, although for his political opponents, article 50 of the Organic Law of the Legislative Body would apply, which details that no deputy “can hold any office on behalf of the Congress of the Republic.”

Archila, is one of the favorites. The congressman was elected for the district of Guatemala and according to sources from the Cabal party, he is the one who has the majority of the votes to be the incumbent before the Board.

“The UNE is the only one who brought in paperwork…evidently it is up to us to support someone from our party,” declared deputy Adim Maldonado. He added that they are still seeking the necessary votes for Congressman López, although his name is mentioned for the substitute position.

Monetary activities

The board of directors of the Monetary Board is occupied by seven members: the ministers of Public Finance, Economy and Agriculture, as well as a representative of the business associations of commerce, industry and agriculture, another elected by the presidents of the boards of directors or boards of directors. from national private banks and one from the Superior Council of the University of San Carlos of Guatemala.

The seat corresponding to Congress has been vacant since February 6. The plenary session decided to remove the current Vamos deputy, Duay Martínez, one of the main allies of former president Alejandro Giammattei, from office.

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Martínez held the title of said collegiate body since May 4, 2022.

The Political Constitution of the Republic of Guatemala in its article 133, details that the Monetary Board “is in charge of determining the monetary, exchange and credit policy of the country and will ensure the liquidity and solvency of the national banking system, ensuring stability and the strengthening of national savings.”

“The lack of a delegate does not affect the decisions made in the Monetary Board, in the past for more than a year Congress did not appoint its representative,” recalled Adolfo Lacs, union leader of the Bank of Guatemala. He added that, in the last six years, the Legislature has not appointed a head or substitute so it has been half done.

He reiterated that this is an important body that oversees the country’s monetary and credit policy, so the designation of Congress demonstrates its responsibility or irresponsibility in having its representative before the JM.

From the Monetary Board to the IGSS

Currently the position of first vice president of the IGSS is vacant, since it is occupied by one of the members of the Monetary Board. In the last eight years, this management position has been occupied by the representative of Congress before the Board, Duay Martínez and Fernando García Gudiel.

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