The economists who from now on will lead the Council of the Central Bank in Chile

The economists who from now on will lead the Council of the Central Bank in Chile

Financial Diary – Santiago

The year begins with changes among those who have the responsibility of taking care of the monetary policy of Chileans. The Board of the Central Bank unanimously appointed Stephany Griffith-Jones as the entity’s new vice president, replacing Pablo García.

Griffith-Jones will hold her new position until December 24, 2025, the date on which her term as a director of the issuing institute ends.

The American economist has been a member of the Council since March 2022, after the Senate approved the nomination made by the then President of the Republic, Sebastián Piñerato complete the period of the current Minister of Finance, Mario Marcel, in the entity.

It should be noted that this is the first time in history that the Central Bank of Chile will be headed by two women: Griffith-Jones as vice president, and Rosanna Costa as president.

When the issuing institute was consulted, they explained that Considering that Griffith-Jones has two years remaining as a director, now “all directors have the option of holding the role of vice president during their time at the issuing institute.”

“The choice of Stephany Griffith-Jones took this element into special consideration,” they officially explained.

His appointment also maintains the political balance in the Council. Since the return to democracy, the trend has been to have the two large political blocs in the presidency and vice presidency. Costa is close to the center-right, while Griffith-Jones is close to the center-left.

The only times this rule was not followed was between 2010 and 2011, when the president was José De Gregorio, linked to the Christian Democrats, and the vice president, Manuel Marfán, to the Socialist Party; and between 2015 and 2016, when both the then president, Rodrigo Vergara, and the vice president, Sebastián Claro, were close to the center-right.