He Central Bank of Uruguay (BCU) returned to be a full member of the financial education network of the Organization for Economic Cooperation and Development (OECD) after seven years of having lost that category.
The history of BCU and his participation in the International Network for Financial Education (INFE) of the OECD It is not linear but it does not have many updates either: in 2012, the Uruguayan monetary authority joined this network as a “regular” member, and the following year it moved to the “full” category. However, a resolution of 2106 reversed this situation.
Now, the board of directors of the Central Bank approved to return to participate as a member full after seven years, according to the weekly Busqueda.
This change in status will allow you to have a active role and rights such as “having broader access to information, he knowledge and to exchange and discussion with other peers to identify best practices and define policies regarding financial education and Consumer protection”says the organization’s resolution.
The INFE aims to collect comparable data and evidence, develop methodology to measure impact, share experiences and good practices, develop comparative research and analysis, design policy instruments and promote effective implementation and monitoring of financial education issues.
The network has a membership structure that consists of two types of participation: “regular”, which are those institutions that have the interest of being informed of public activities and documents without playing any active role—a position that the BCU maintained for eight years since its incorporation; and “full”, for which organizations must contribute money and gain access to certain rights, as well as active participation.
The Central Bank once again entered this last category, where it will be together with 280 organizations from 130 countries, and for which it must contribute with 6,720 euros per year from next year.
Diego Labat, recognized among the 11 best in the world
The president of Central Bank of Uruguay (BCU), Diego Labat, improved his international rating and his performance at the head of the entity that placed him among the 11 best in the world, with a grade TO, according to the annual ranking of the American magazine Global Finance, which assessed his handling of monetary policy.
Among the merits assigned to him by the prestigious publication, the combat of the inflation, which today is at its lowest level in 18 years, as well as decisions about interest rates, in a context where drought hit economic activity hard.
Labat Thus, he obtained a constant improvement in his actions, since in 2022 he obtained an A- and in 2021 a B, while in 2020 he was not qualified, thus being better placed than his predecessors. Alberto Graña and Mario Bergara. The leader was only surpassed by the three central bankers who achieved the maximum grade, an A+. This is Shaktinta Das, of the India; Thomas Jordan, of Swiss; and Nguyen Thi Hong, from Vietnam.
In his seat, he shared the ranks with three peers from the region: Roberto Campos Neto (Brazil), José Cantero Sienra (Paraguay) and Julio Velarde Flores (Peru). In addition, they were at the same height Amir Yaron (Israel), Harvesh Kumar Seegolam (Mauricio), Adrian Orr (New Zealand) and Yang Chin-long (Taiwan).
At the regional level, Leonardo Villar Gómez, among others, completed the panorama. (Colombia), with an A-; Rosanna Costa (Chili) and Jerome Powell (USA), with a B+; Guillermo Avellán Solines (Ecuador), with a C+; Roger Edwin Rojas Ulo (Bolivia), with a C-. Meanwhile, Miguel Ángel Pesce completed the ranking with the worst grade. (Argentina) and Calixto Ortega Sánchez (Venezuela), with an F.
Source: Ambito
