Central Bank of Uruguay

Last updated
Central Bank of Uruguay
Banco Central del Uruguay
Central Bank of Uruguay logo.svg
Banco Central del Uruguay.jpg
Headquarters Montevideo
EstablishedJuly 6, 1967 (1967-July-06)
Ownership100% state ownership [1]
PresidentWashington Ribeiro
Central bank of Uruguay
Currency Uruguayan peso
UYU (ISO 4217)
Reserves15 160 million USD [1]
Website bcu.gub.uy

The Central Bank of Uruguay (Spanish : Banco Central del Uruguay, BCU) is the central bank of the Uruguay.

Contents

History

The Central Bank of Uruguay was established on July 6, 1967 as an autonomous state entity (Spanish : Ente Autónomo), with the passing of the 196th article of the Constitution of 1967. [2] Prior to the creation of the BCU, the issuing of currency and managing and supervising of the banking system was handled by the department of the Banco de la República Oriental del Uruguay. [3]

On March 30, 1995 a bank charter was passed (Law 16,696), which expanded the BCUs responsibilities and set out the management structure as well as the functions and responsibilities of the bank. [4]

The headquarters of the Central Bank in Ciudad Vieja, Montevideo houses the Numismatic museum, in which both Uruguayan coins and banknotes from the Banco de la República and the Central Bank, as well as foreign ones, are exhibited. [5]

Functions

According to the 7th article of the BCUs Charter, its responsibilities are; [6]

List of presidents

List of the presidents of Central Bank of Uruguay.

#NameTerm of officeTenure lengthNotes
Start of termEnd of term
1 Enrique V. Iglesias May 16, 1967January 9, 19691 year, 238 days [7]
2 Carlos Sanguinetti January 10, 1969October 27, 19701 year, 290 days [8]
3 Armando Malet October 27, 1970November 21, 197025 days [9]
4 Nilo Márquez December 14, 1970August 12, 1971241 days [10]
5 Jorge Echeverría August 12, 1971March 1, 1972201 days [11]
6 Juan Pedro Amestoy March 1, 1972June 4, 19731 year, 95 days [12]
7 Carlos Ricchi June 4, 1973December 23, 19741 year, 202 days [13]
8 José Gil Díaz December 23, 1974July 5, 19827 years, 194 days [14]
9 José María Puppo July 5, 1982February 24, 19841 year, 234 days [15]
10 Juan Carlos Protasi February 24, 1984April 15, 19851 year, 50 days [16]
11 Ricardo Pascale April 16, 1985April 9, 19904 years, 358 days [17]
12 Ramón Díaz April 9, 1990October 18, 19933 years, 192 days [18]
13 Enrique Braga October 18, 1993April 7, 19951 year, 171 days [19]
14 Ricardo Pascale April 7, 1995April 18, 19961 year, 11 days [17]
15 Humberto Capote April 18, 1996April 12, 20003 years, 360 days [20]
16 César Rodríguez Batlle April 13, 2000July 24, 20022 years, 102 days [21]
17 Julio de Brun July 25, 2002March 10, 20052 years, 228 days [22]
18 Walter Cancela March 10, 2005October 24, 20083 years, 228 days [23]
19 Mario Bergara November 11, 2008December 26, 20135 years, 45 days [24]
20 Alberto Graña January 10, 2014April 20, 20151 year, 100 days [25]
21 Mario Bergara April 20, 2015October 11, 20183 years, 173 days [24]
22 Alberto Graña October 11, 2018March 4, 20201 year, 145 days [25]
23 Diego Labat March 20, 2020July 25, 20244 years, 127 days [26]
24 Washington Ribeiro July 26, 2024Incumbent91 days [27]

See also

Related Research Articles

The Banco Bradesco S.A. is a Brazilian financial services company headquartered in Osasco, in the state of São Paulo, Brazil. It is the third largest banking institution by assets in Brazil and Latin America. It is also one of fifty most valuable banks in the world. The bank is listed at the B3 in São Paulo, where it is part of the Índice Bovespa, in the New York Stock Exchange and in the Madrid Stock Exchange.

<span class="mw-page-title-main">Central Bank of Cuba</span> Monetary Authority of Cuba

The Central Bank of Cuba is the central bank of Cuba. It was created in 1997 to take over many of the functions of the National Bank of Cuba, which was established on 23 December 1948 and began operations on 27 April 1950.

<span class="mw-page-title-main">IESE Business School</span> Graduate business school in Spain

IESE Business School is a Catholic graduate business school at the University of Navarra. It was established in Barcelona in 1958 by Opus Dei. From 1963, in collaboration with Harvard Business School, it offers a two-year Master of Business Administration degree, an executive MBA, and executive education courses. It has other campuses in Madrid, Munich, New York City and São Paulo.

The 2002 Uruguay banking crisis was a major banking crisis that hit Uruguay in July 2002. In this, a massive run on banks by depositors caused the government to freeze banking operations. The crisis was caused by a considerable contraction in Uruguay's economy and by over-dependence on Argentina, which experienced a strong phase of an economic meltdown itself in late 2001. In total, approximately 1/3 of the country's deposits were withdrawn and five financial institutions were left insolvent. The value of the Uruguayan peso fell, losing nearly half of its value against the U.S. dollar in 2002.

<span class="mw-page-title-main">Banco de la Nación Argentina</span> Argentine national bank

Banco de la Nación Argentina is a large bank in Argentina, and the largest in the country's banking sector.

<span class="mw-page-title-main">Banco de la República Oriental del Uruguay</span> State-owned bank located in Uruguay

Banco de la República Oriental del Uruguay is a state-owned commercial bank in Uruguay, founded in 1896 under the presidency of Juan Idiarte Borda.

<span class="mw-page-title-main">Villa Muñoz</span> Barrio in Montevideo Department, Uruguay

Villa Muñoz - Retiro is a barrio of Montevideo, Uruguay, bordering Aguada and Reducto to the west, La Figurita to the north, La Comercial to the east and Cordón to the south.

<span class="mw-page-title-main">Cordón</span> Barrio in Montevideo Department, Uruguay

Cordón is a central barrio of Montevideo, Uruguay, located East of the Centro. Its main avenue is 18 de Julio Avenue.

<span class="mw-page-title-main">Headquarters of the Bank of the Oriental Republic of Uruguay</span>

The Headquarters of the Bank of the Oriental Republic of Uruguay is the building that houses the main offices of the Banco de la República Oriental del Uruguay. It is located in Ciudad Vieja, Montevideo. The building, designed in the neoclassical style, was designed by Italian architect Giovanni Veltroni and completed in 1938.

<span class="mw-page-title-main">Banco Sofitasa</span> Venezuelan universal bank

Banco Sofitasa is a Venezuelan universal bank based in San Cristóbal. Its primary market is in Barinas and the Andean Region and is the only bank in Venezuela with its main headquarters in the Andean region following the closure of Banfoandes. Banco Sofitasa can be found in 18 of Venezuela's 23 states.

<span class="mw-page-title-main">Guillermo de la Dehesa</span>

Guillermo de la Dehesa Romero is a Spanish lawyer, economist, politician and businessman. Since leaving politics in 1988 he has been an international advisor to Goldman Sachs.

<span class="mw-page-title-main">Mario Bergara (politician)</span> Uruguayan economist

Mario Esteban Bergara Duque is a Uruguayan economist, public accountant, professor, and politician of the Broad Front. He served as President of the Central Bank of Uruguay from 2008 to 2013 and from 2015 to 2018.

<span class="mw-page-title-main">Banco Bilbao Vizcaya Argentaria</span> Spanish financial services company

Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania.

<span class="mw-page-title-main">Laura Raffo</span> Uruguayan economist, businessman and politician

María Laura Raffo Degeronimi is a Uruguayan economist, businesswoman, and politician of the National Party. She began her political career in 2020 after being proclaimed as the candidate of the Coalición Multicolor for the municipal elections of that year.

<span class="mw-page-title-main">Banco de Seguros del Estado</span>

The State Insurance Bank is a Uruguayan government-owned insurance company that provides insurance in Uruguay. Established on 27 December 1911, it operates under the Ministry of Economy and Finance, and is controlled by the Court of Accounts and the Central Bank. It is an Autonomous State Entity with commercial and social purposes, as a state-owned enterprise with high decentralization.

The Defence Staff is an advisory body of the Ministry of National Defense of Uruguay on issues related to the planning and coordination of activities carried out by the Armed Forces. Created from Law 18,650 of February 19, 2010, its current headquarters was inaugurated in 2011, and is located on Avenida Luis Alberto de Herrera at its intersection with Monte Caseros St.

<span class="mw-page-title-main">Diego Labat</span>

Diego Labat Legarra is an Uruguayan economist and accountant who served as the 23rd president of the Central Bank of Uruguay from 2020 to 2024.

References

  1. 1 2 Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. "Páginas - 45 años del Banco Central del Uruguay". www.bcu.gub.uy. Retrieved 2023-02-16.
  3. "Creación del banco - BROU". 2021-04-21. Archived from the original on 2021-04-21. Retrieved 2023-02-16.
  4. "Ley N° 16696". 2022-05-28. Archived from the original on 2022-05-28. Retrieved 2023-02-16.
  5. "Museo Numismático". 2022-07-02. Archived from the original on 2022-07-02. Retrieved 2023-02-16.
  6. "Charter of the Central Bank of Uruguay" (PDF).
  7. "Enrique Iglesias – Presidente – Arte BCU". 2022-06-07. Archived from the original on 2022-06-07. Retrieved 2023-02-16.
  8. "Carlos Sanguinetti – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  9. "Armando Malet – Presidente – Arte BCU". 2022-06-07. Archived from the original on 2022-06-07. Retrieved 2023-02-16.
  10. "Nilo Márquez – Presidente – Arte BCU". 2022-06-14. Archived from the original on 2022-06-14. Retrieved 2023-02-16.
  11. "Jorge Echeverría Leunda – Presidente – Arte BCU". 2022-07-05. Archived from the original on 2022-07-05. Retrieved 2023-02-16.
  12. "Juan Pedro Amestoy – Presidente – Arte BCU". 2022-11-14. Archived from the original on 2022-11-14. Retrieved 2023-02-16.
  13. "Carlos E. Ricci – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  14. "José Gil Díaz – Presidente – Arte BCU". 2022-07-05. Archived from the original on 2022-07-05. Retrieved 2023-02-16.
  15. "José María Puppo – Presidente – Arte BCU". 2022-07-05. Archived from the original on 2022-07-05. Retrieved 2023-02-16.
  16. "Juan Carlos Protasi – Arte BCU". 2022-07-05. Archived from the original on 2022-07-05. Retrieved 2023-02-16.
  17. 1 2 "Ricardo Pascale – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  18. "Ramón Díaz – Presidente – Arte BCU". 2022-07-16. Archived from the original on 2022-07-16. Retrieved 2023-02-16.
  19. "Enrique Braga – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  20. "Humberto Capote – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  21. "César Rodríguez Batlle – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  22. "Julio De Brun – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  23. "Walter Cancela – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  24. 1 2 "Mario Bergara – Presidente – Arte BCU". 2022-07-16. Archived from the original on 2022-07-16. Retrieved 2023-02-16.
  25. 1 2 "Alberto Graña – Presidente – Arte BCU". 2022-10-06. Archived from the original on 2022-10-06. Retrieved 2023-02-16.
  26. "Páginas - El economista Diego Labat asumió como presidente del BCU". 2021-01-20. Archived from the original on 2021-01-20. Retrieved 2023-02-16.
  27. Sala de Prensa (2024-07-26). "El economista Washington Ribeiro asumió la Presidencia del Directorio del BCU". Banco Central del Uruguay. Retrieved 2024-07-28.

34°54′12″S56°12′00″W / 34.9032°S 56.2°W / -34.9032; -56.2