Central Bank of Paraguay
Encyclopedia
The Central Bank of Paraguay is Paraguay
's highest monetary authority in, and the country's governing body in, finances and economics. Its headquarters are in Asunción
. The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95.
The bank manages the printing and minting of the Paraguayan currency, the guaraní
.
In 1998, the Bank ordered the liquidation of one of the country's banks due to a severe lack of liquidity. The government sent emergency legislation to Congress to try to guarantee bank deposits and prevent a run on savings. http://news.bbc.co.uk/1/hi/world/americas/197018.stm
In 2005, former Paraguayan president, Luis Gonzales Macchi and four bank officials were jailed following their involvement in the illegal transfer of $16m of funds through the bank to the United States. http://news.bbc.co.uk/1/hi/world/americas/5051704.stm
Paraguay
Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...
's highest monetary authority in, and the country's governing body in, finances and economics. Its headquarters are in Asunción
Asunción
Asunción is the capital and largest city of Paraguay.The "Ciudad de Asunción" is an autonomous capital district not part of any department. The metropolitan area, called Gran Asunción, includes the cities of San Lorenzo, Fernando de la Mora, Lambaré, Luque, Mariano Roque Alonso, Ñemby, San...
. The institution was created by Law 18/52 of March 25, 1952. In 1995, the legal frame of the Central Bank was replaced by Law 489/95.
The bank manages the printing and minting of the Paraguayan currency, the guaraní
Paraguayan guaraní
The guaraní is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.The currency sign is .-History:...
.
In 1998, the Bank ordered the liquidation of one of the country's banks due to a severe lack of liquidity. The government sent emergency legislation to Congress to try to guarantee bank deposits and prevent a run on savings. http://news.bbc.co.uk/1/hi/world/americas/197018.stm
In 2005, former Paraguayan president, Luis Gonzales Macchi and four bank officials were jailed following their involvement in the illegal transfer of $16m of funds through the bank to the United States. http://news.bbc.co.uk/1/hi/world/americas/5051704.stm