The Board of Directors of Banco de la República (the Central Bank of Colombia) was named “Person of the Year 2024” by two media outlets
Earlier this week, El Nuevo Siglo highlighted Governor Leonardo Villar as “Person of the Year.”
A few days later, Portafolio, a newspaper specialized in economics, emphasized the effective work of the Board of Directors in stabilizing inflation.
“As the year progressed and inflation started to ease, the Central Bank’s Board of Directors gradually lowered its benchmark interest rate through cautious adjustments,” stated Portafolio.
In its recognition, El Nuevo Siglo pointed out, “It has been a long journey, not without pressure and unfair and unfounded criticism. However, the achievements are evident. For all the reasons above, Leonardo Villar and Banco de la República (the Central Bank of Colombia) are, without a doubt, El Nuevo Siglo’s Person of the Year 2024,’ a well-deserved recognition.”
It should be noted that headline inflation as measured by the Consumer Price Index (CPI) has declined by 8 percentage points since April 2023, when it reached 13.4%, to 5.4% in October 2024.
Governor Leonardo Villar recently stated, “We have gone through a difficult adjustment period, but the worst part is behind us, and the prospects for macroeconomic normalization are relatively good as inflation converges to the target and economic activity exhibits a healthy recovery.”
Banco de la República (the Central Bank of Colombia) appreciates these acknowledgments while continuing to face the country’s economic challenges.
