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