Brazil & Southern Cone - November 2006 (ISSN 1471-4431)

The Centro Paraguayo para la Promoción de la Libertad Económica y de la Justicia Social (Ceppro) claims that the central bank's recent decisions are illegal because they have been taken by an inquorate board. Recently, the bank president has been making policy, which the Centro argues is unlawful. The Centro argues that the president's role under Article 21 of law 187 is to implement decisions taken by the board. Only in exceptional circumstances can the president make decisions on his, or in this case, her, own.

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