Reformas

In this year, the first measures were undertaken to move the Bank towards assuming the role of credit supplier for the development of certain sectors of the economy. The Government decided to direct the course of medium and long-term credit towards productive activities. This…

In the 1960’s, the State found it advantageous to delegate the regulatory function of controlling the monetary base to a public corporation other than the Board of Directors of the Banco de la República. 

The Monetary Board was created, consisting of the following members: i) the Minister of Finance and Public Credit, presiding, ii) the Minister of Development, iii) the Minister of Agriculture, iv) the Head of the National Department of Economic Planning, and v) the Governor of the Banco…

Decree 444 put into effect a new exchange system that increased the Bank’s involvement in the control of the Foreign exchange flow fundamentally related to the management of foreign currency budgets and the regulation of supply and demand for foreign exchange.

Nationalisation of the Banco de la República. The Government, having withdrawn as a shareholder in the Banco de la República in 1951, once again assumed this role during this period. The Government acquired all the shares in the Bank leaving one share for each of the shareholding banks…