The national legislature in Asuncion has finalized the selection of a new director for the country’s monetary authority, confirming the appointment of Schreiner to the role on Nov 9. The move fills a leadership vacancy created by a sudden crisis within the regulatory body and follows a nomination by the Paraguayan president.
The appointment comes shortly after the Nov 8 arrest of the former head of the Central Bank of Paraguay. The previous chief was taken into custody following the failure of Ueno Bank, a financial institution that managed the savings of half of the nation’s population.
