PARAGUAY: PRESIDENT OF THE CENTRAL BANK MONICA

UNCLAS ASUNCION 001379 SIPDIS STATE FOR INR-B, WHA/BSC E.O. 12958: N/A TAGS: PINR PGOV PREL PA SUBJECT: PARAGUAY: PRESIDENT OF THE CENTRAL BANK MONICA PEREZ DOS SANTOS BIOGRAPHIC INFORMATION ¶1. (SBU) President Duarte nominated Monica Perez as the President of the Central Bank in April 2005, receiving much attention for his choice of a "technocrat" rather than a political ally. The Senate confirmed her nomination in June ¶2005. ¶2. (SBU) Perez has a tough, no nonsense style and has taken on vested interests throughout the Central Bank, particularly the labor union. Some have criticized her for making too many enemies, and for insufficient outreach to the public and the financial sector. At one point, there was talk within Colorado circles of initiating impeachment proceedings against her for not offering Colorado party supporters positions within the Central Bank. She still appears to enjoy the strong support of President Duarte. Time will tell if her approach succeeds in reforming an institution known as a bastion of patronage employing perhaps twice as many employees as it needs. ¶3. (U) Prior to heading the Central Bank, Perez worked for the International Monetary Fund (IMF) as a senior economist and consultant. In addition, she served as Manager of Economic Studies at the Central Bank. ¶4. (U) Perez received advanced degrees in Economics from the University of Nuremberg, Germany in 1995 and 1998 and a degree in Economics from the National University of Asuncion in 1989. She also completed postgraduate studies in Economics and Monetary Policy at the European Union. Perez has attended courses and seminars in Washington, D.C., Frankfurt, Germany, and Mexico City. ¶5. (U) She speaks Spanish, English, and German. JOHNSON