US embassy cable - 05ASUNCION1379

UNCLAS ASUNCION 001379 
 
SIPDIS 
 
STATE FOR INR-B, WHA/BSC 
 
E.O. 12958: N/A 
TAGS: PINR, PGOV, PREL, PA 
SUBJECT: PARAGUAY: PRESIDENT OF THE CENTRAL BANK MONICA 
PEREZ DOS SANTOS BIOGRAPHIC INFORMATION 
 
 
1.  (SBU)  President Duarte nominated Monica Perez as the 
President of the Central Bank in April 2005, receiving much 
attention for his choice of a "technocrat" rather than a 
political ally.  The Senate confirmed her nomination in June 
2005. 
 
2.  (SBU)  Perez has a tough, no nonsense style and has taken 
on vested interests throughout the Central Bank, particularly 
the labor union.  Some have criticized her for making too 
many enemies, and for insufficient outreach to the public and 
the financial sector.  At one point, there was talk within 
Colorado circles of initiating impeachment proceedings 
against her for not offering Colorado party supporters 
positions within the Central Bank.  She still appears to 
enjoy the strong support of President Duarte.  Time will tell 
if her approach succeeds in reforming an institution known as 
a bastion of patronage employing perhaps twice as many 
employees as it needs. 
 
3.  (U)  Prior to heading the Central Bank, Perez worked for 
the International Monetary Fund (IMF) as a senior economist 
and consultant.  In addition, she served as Manager of 
Economic Studies at the Central Bank. 
 
4.  (U)  Perez received advanced degrees in Economics from 
the University of Nuremberg, Germany in 1995 and 1998 and a 
degree in Economics from the National University of Asuncion 
in 1989.  She also completed postgraduate studies in 
Economics and Monetary Policy at the European Union. Perez 
has attended courses and seminars in Washington, D.C., 
Frankfurt, Germany, and Mexico City. 
 
5.  (U)  She speaks Spanish, English, and German. 
JOHNSON