Governance and Team
FLAR has a simple governance structure
Its main governing bodies are:
The decisions of the Board of Directors and the Assembly require a majority of 3/4 of those present, except in some special cases which require a larger majority.
Assembly of Representatives
It is the highest authority of the FLAR. It meets regularly once a year and is composed of the Ministers of Finance or Treasury of the member countries, or the corresponding official designated by the respective government.
Each representative of full members as of 2021 is entitled to one vote, regardless of the amount of their paid-in capital. Representatives of countries that subsequently accede to the Constitutive Agreement will acquire the right to one vote once they pay and maintain the minimum capital amount required for that purpose.
ts main functions, upon recommendation of the Board of Directors, are:
Members
José Gabriel Espinoza Yáñez
Minister of Economy and Public Finance
Germán Ávila Plazas
Minister of Finance
Nogui Acosta Jaén
Minister of Finance
Sariha Moya Angulo
Minister of Economy and Finance
Oscar Lovera
Minister of Economy and Finance
Rodolfo Acuña Namihas
Minister of Economy and Finance
Gabriel Oddone París
Minister of Economy and Finance
Anabel Pereira Fernández
Minister of the People’s Power for Economy and Finance
Bolivia
Marcelo Alejandro Montenegro Gómez
Minister of Economy and Public Finance of the Plurinational State of Bolivia
Costa Rica
Nogui Acosta Jaén
Minister of Finance - Republic of Costa Rica
Paraguay
Óscar Llamosas
Minister of Finance - Republic of Paraguay
Uruguay
Azucena María Arbeleche
Minister of Economy and Finance - Eastern Republic of Uruguay
Colombia
José Antonio Ocampo
Minister of Finance and Public Credit - Republic of Colombia
Ecuador
Pablo Arosemena
Minister of Economy and Finance - Republic of Ecuador
Peru
Oscar Graham Yamahuchi
Minister of Economy and Finance - Republic of Peru
Venezuela
Delcy Rodríguez
Minister of the People's Power of Economy, Finance and Public Banking - Bolivarian Republic of Venezuela
Board of Directors
Its members are the Governors of the central banks of the full members (member countries), the Governors of the associate central banks, and FLAR’s Executive President of FLAR, who chairs it. Each director is entitled to one vote. However, the central bank Governors of the full members as of 2021 have the right to permanently vote, regardless of the amount of their paid-in capital. All other directors shall be entitled to one vote once their contribution has been paid and as long as they maintain the minimum capital amount required for that purpose.
It meets at least twice a year and deals with:
Members
Bolivia
Roger Edwin Rojas
President (A)
Central Bank of Bolivia
Chile
Rosanna Costa
President Central Bank of Chile
Costa Rica
Róger Madrigal López
President
Central Bank of Costa Rica
Paraguay
José Cantero Sienra
President
Central Bank of Paraguay
Uruguay
Diego Labat
President
Central Bank of Uruguay
Colombia
Leonardo Villar
General Manager
Bank of the Republic
Ecuador
Tatiana Rodríguez Cerón
Minister of Economy and Finance
Perú
Julio Velarde Flores
Chairman of the Board
Central Reserve Bank of Peru
Venezuela
Calixto Ortega Sánchez
President
Central Bank of Venezuela
David Iván Espinoza Torrico
Governor of the Central Bank of Bolivia
Rosanna Costa
Governor of the Central Bank of Chile
Leonardo Villar
General Manager of the Bank of the Republic
Róger Madrigal López
Governor of the Central Bank of Costa Rica
Gustavo Estuardo Camacho Dávila
Chair of the Financial and Monetary Policy and Regulation Board
Carlos Carvallo Spalding
Governor of the Central Bank of Paraguay
Julio Velarde Flores
Governor of the Central Reserve Bank of Peru
Guillermo Tolosa
Governor of the Central Bank of Uruguay
Luis Alberto Pérez González (a)
Governor of the Central Bank of Venezuela
Executive Presidency
This is the fund’s permanent technical body. It is headed by the Executive President, who is elected by the Board of Directors for a 3-year period, with the possibility of being reelected.
The main duties of the Executive President are to:
Since July 23, 2017, FLAR’s Executive President is José Darío Uribe, Colombian economist who served as General Manager (Governor) of the Central Bank of Colombia (Banco de la República) for 12 years.
Senior Management
It is comprised by the Executive Presidency, the General Secretariat, Legal Counsel and the Risk, Financial, Economic Studies and Corporate Services Directorates.
Members
Organization chart
