AIDE-MEMOIRE BANCO DE GUATEMALA 2005
MONETARY BOARD Lizardo Arturo Sosa López President Mario Alberto García Lara Vicepresident SENIOR MEMBERS María Antonieta Del Cid de Bonilla Minister of Public Finances Marcio Ronaldo Cuevas Quezada Minister of Economy Alvaro Aguilar Prado Minister of Agriculture, Livestock and Food Max Erwin Quirín Schoder Elected by Business Associations of Commerce, Industry and Agriculture Julio Vielman Pineda Elected by Presidents of Administration Councils or Board of s of the National Private Banks Eduardo Antonio Velásquez Carrera Elected by the Consejo Superior de la Universidad de San Carlos de Guatemala Arturo Eduardo Meyer Maldonado Elected by the Congress of the Republic DEPUTY MEMBERS Ramiro Ordóñez Jonama Elected by the Congress of the Republic Urías Amitaí Guzmán García Elected by the Consejo Superior de la Universidad de San Carlos de Guatemala Sergio de la Torre Gimeno Elected by Business Associations of Commerce, Industry and Agriculture Gabriel Biguria Ortega Elected by Presidents of Administration Councils or Board of s of the National Private Banks Nota: Titular and Deputy Members that were executing their functions to December 31 st, 2005.
PERMANENT ADVISORS Edwin Haroldo Matul Ruano General Carlos Rafael García Financial José Alfredo Blanco Valdés of Economy Leonel Hipólito Moreno Mérida Legal Oscar Roberto Monterroso Sazo Department of Economic Studies Willy Waldemar Zapata Sagastume Superintendent of Banks Armando Felipe García Salas Alvarado Secretary Monetary Board Note: Authorities and Superior Officers that were executing their functions to December 31 st, 2005.
BANCO DE GUATEMALA AUTHORITIES Lizardo Arturo Sosa López President Edwin Haroldo Matul Ruano General Carlos Rafael García Financial Mario Alberto García Lara Vice-president José Alfredo Blanco Valdés of Economy Manuel Augusto Alonzo Araujo Administrative Leonel Hipólito Moreno Mérida Legal SUPERIOR OFFICERS Oscar Roberto Monterroso Sazo Department of Economic Studies Johny Rubelcy Gramajo Marroquín Department of Economic Studies Otto René López Fernández Department of Economic Studies Mario Alfredo Salguero Samayoa Department of Economic Statistics Fernando Wladimir Danilo Estrada Pérez Department of Economic Statistics Rómulo Oswaldo Divas Muñoz Department of Monetary Stabilization Operations Luis Felipe Granados Ambrosy Advisor II Department of Banking and Financial Analysis Juan Carlos Castañeda Fuentes Department of Economic Research Sergio Javier López Toledo Department of Economic Research Edgar Rolando Lemus Ramírez International Department Jorge Aníbal Del Cid Aguilar International Department Enrique Antonio Amurrio Comparini Department of Communication and Institutional Relations
Jorge Vinicio Cáceres Dávila Department of Operations of Monetary Stabilization Héctor Adelso Del Cid Solórzano Department of Accounting Byron Leopoldo Sagastume Hernández Department of Accounting Salvador Orlando Carrillo Grajeda Department of Human Resources Erick Prado Carvajal Department of Human Resources Armando Felipe García Salas Alvarado Secretary Monetary Board Aníbal García Ortiz Gerardo Sub-secretary Monetary Board José Fernando Ramírez Velásquez Department of Monetary Issue Bernardino González Leiva Internal Auditor Erwin Roberto Camposeco Córdova Internal Sub-auditor Mynor Humberto Saravia Sánchez Department of Supplies and Diverse Services Mario Roberto León Ardón Department of Supplies and Diverse Services Romeo Eduardo Campos Sánchez Organizational Development José René Lorente Méndez Organizational Development Ariel Rodas Calderón Department of Computer Appliance Byron Saúl Girón Mayén Department of Computer Appliance Noél Orozco Godínez Advisor III Legal Advisory César Augusto Martínez Alarcón Advisor III Legal Advisory Fernando Villagrán Guerra Advisor II Legal Advisory Juan José Marín Del Valle Department of Banking Security Note: Authorities and Superior Officers that were executing their functions to December 31 st, 2005.
I N D E X CHAPTER I NATURE AND ADMINISTRATIVE STRUCTURE OF THE BANCO DE GUATEMALA Page ORGANIC STRUCTURE 1. Monetary Board 6 2. Presidency 8 3. Administration 9 EXECUTION COMMITTEE CHAPTER II OPERATIONS AND ACCOUNTS OF THE BANCO DE GUATEMALA 1. Term deposits 14 1.1 In quetzales 14 1.2 In United States dollars 14 2. Operations with securities 15 2.1 Bonds in portfolio of the Banco de Guatemala 15 2.2 Stabilization bonds 15 3. Treasury bonds received to cover net deficiencies 16 4. International monetary reserves and transactions in foreign currency 16 4.1 International monetary reserves 16 4.2 Administration of the international monetary reserves 17 4.3 Circulation of credit letters 22 4.4 Issue of drafts and payment orders 22 4.5 Participation in the exchange market 23
5. Credit portfolio 23 6. Obligations abroad 25 7. Deposits of the non-financial public sector 26 8. Financial agent of the state 27 8.1 Operations with treasury bonds 27 8.2 Administration of amortization funds 28 8.3 Trusts and guarantee funds under administration 29 9. Fund for the Savings Protection 30 10. Trustee Fund of Banking Capitalization 31 11. Payment System 32 11.1 Modernization of the payment system 32 11.1.1 Banking Clearing House 33 11.1.2 Real Time Gross Settlement System -LBTR- 34 12. Paper money and coins issued and amortized 36 13. Contribution of Guatemala to international financial organizations 36 14. Balance sheets 37 14.1 General balance 37 14.2 Results status 38
CHAPTER III TRANSPARENCY AND RENDERING OF ACCOUNTS 1. Transparency and rendering of accounts 40 1.1 Appearance of the President of the Banco de Guatemala before the Congress of the Republic 40 1.2 Publication of information 40 2. Communication strategy 41 CHAPTER IV OTHER ACTIVITIES OF THECENTRAL BANK 1. Participation in international meetings regarding monetary aspects 44 2. Statistical improvement 45 2.1 Economic surveys 45 2.2 Update of the DINEL 45 2.3 Advances in the implementation of the National Accounts System 1993 -SCN93-46 2.4 Advances in the implementation of the Fifth Manual of the IMF Payment Balance 46 2.5 Advances in the implementation of the Manual of Monetary and Financial Statistics 47 2.6 Implementation of the System of Quarterly National Accounts 47 2.7 Survey of Inflation Expectations of the Private Analysts Panel -EEI- 48 2.8 Survey of Business Opinion -EOE- 48 2.9 Integrated System of Statistical Information 48 3. System of Prognosis and Analysis of the Monetary Policy 49 4. Academic events 49 4.1 "Doctor Manuel Noriega Morales" contest 49 4.2 Economic periods 50 4.3 Higher degree Program 51
4.4 Participation in the Research network of the Latin American Central Banks 52 4.5 Participation in the Annual Meeting of the Latin American and Caribbean Economic Association -LACEA- 52 CHAPTER V MAIN RESULTS OF THE EXECUTION OF THE MONETARY, EXCHANGE AND CREDIT POLICY IN 2005 56 ANNEXES 1. Statement of Assets, liabilities and condensed wealth of the Fund for Savings Protection 60 2. Balance sheets of the Banco de Guatemala 61 3. Main resolutions issued by the Monetary Board 72