(Bloomberg) -- Colombia’s presidency will publish a decree Feb. 1 naming the two central bank board members it is replacing, according to a senior official familiar with the discussions.
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The official said the president would probably ask the two oldest members of the board to step down, which would result in the exit of bank co-directors Roberto Steiner and Jaime Jaramillo. However, the decision has not been finalized, according to the official, who asked not to be named because the conversations are private.
President Gustavo Petro named two new central bank board members, Laura Moisa and Cesar Giraldo, on Wednesday evening, but didn’t say who they would replace.
Moisa is an economics professor and deputy rector of Colombia’s National University in Medellin. Her research interests include development, rural development and the labor market, according to the university’s website.
Giraldo is a Paris-educated economist who serves on the committee charged with overseeing Colombia’s fiscal rule, or balanced-budget act, according to a biography on the committee’s website. He has taught at the National University in Bogota, and has published papers on topics related to social protection and public finances.
The policy committee has split in recent months between a minority calling for faster interest rate cuts to revive economic growth, and a majority in favor of more modest reductions to ensure inflation continues to slow toward its target. At the bank’s December meeting, five of the seven policymakers voted to slow the pace of easing, while the other two, including Finance Minister Diego Guevara, argued for deeper cuts.
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