LatinNews Daily - 02 November 2020

* Juan José Echavarría has announced that he will not seek re-election as president of Colombia’s central bank (Banrep) when his four-year term finishes at the end of 2020. Echavarría attributed his decision to “family reasons”, but his departure has added to speculation that finance minister Alberto Carrasquilla, who in September stated an interest in becoming Banrep president, is being lined up as his replacement. Banrep controls Colombia’s gold reserves and monetary policy, and its independence from government is constitutionally enshrined – however, President Iván Duque has precedent for appointing government officials to supposedly independent offices, prompting concern that the Banrep presidency could be next in line.

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