December 27, 2019 / 1:38 PM / 2 months ago

Colombia appoints Arturo Galindo as central bank board member

BOGOTA (Reuters) - President Ivan Duque on Friday appointed Arturo Galindo as a new member of the board of Colombia’s central bank, replacing Jose Antonio Ocampo, who resigned last week.

Announcing the appointment on Twitter, Duque described Galindo as a “prestigious economist” who holds more than 25 years experience.

Galindo will join the seven-member board of Colombia’s central bank after a stint of more than 11 years at the Inter-American Development Bank, where he is chief of the strategic planning and monitoring division.

After graduating from Colombia’s University of Los Andes, Galindo went gained a PhD in economics from the University of Illinois Urbana-Champaign in the United States.

Galindo said the appointment was an enormous honor.

“I assume this challenge with a huge commitment joining a wonderful team,” he said on Twitter.

Colombia’s central bank has kept its benchmark interest rate at 4.25% since April 2018. The majority of the market expects the bank to extend this decision throughout 2020.

Reporting by Nelson Bocanegra and Oliver Griffin; Writing by Oliver Griffin; Editing by Giles Elgood

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