Guatemala Central Bank Pick Rejoins Congress 13 October
Jonathan Menkos, blocked by Guatemala's top court as central bank chief, is returning to Congress, and an acting governor says the bank runs normally. The post Guatemala Central Bank Pick Rejoins Congress 13 October appeared first on The Rio Times .
Jonathan Menkos, the former finance minister selected to head Guatemala's central bank, is returning to Congress following a court decision. The Constitutional Court blocked his appointment on 8 October, suspending him as head of the bank and its Monetary Board. Congress president Luis Contreras announced Menkos' return to the legislature on 13 October, according to several Guatemalan news outlets.
This leaves the bank under the leadership of acting president Arévalo. The controversy revolves around Menkos' dual role as a lawmaker and central bank chief, with the court ruling that lawmakers cannot hold public office while on active duty. The president of the central bank, Arévalo, maintains that the bank and its Monetary Board are functioning normally.
The US Embassy has warned against politicising the bank, emphasizing its importance to Guatemalan migrants in the United States, who send remittances home. The current political climate in Guatemala is tense, as the court decision and ongoing investigations may have implications for the country's monetary policy and its relationship with the United States.
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