A nullity lawsuit was filed before the Full Chamber of the Council of State against article 35 of decree 2520 of 1993, which sets the Banco de la República's statutes. The article requires the Finance Minister's presence for the Board of Directors to convene. The suit claims it violates articles 371 and 372 of the Political Constitution.
The lawsuit, filed before the Full Chamber of the Council of State, challenges article 35 of the Banco de la República's Statutes, as set in decree 2520 of 1993. This provision defines the quorum and voting system, stating that "the Board of Directors may only meet, deliberate, and decide with the attendance of at least five of its members, one of whom must be the Minister of Finance and Public Credit, who shall preside".
The plaintiffs argue it is unconstitutional, violating articles 371 and 372 of the Constitution. Article 371 grants the Bank technical, administrative, and financial autonomy, coordinated with general economic policy. Article 372 states that Board members represent solely the Nation's interest, not subordinating to contrary policies.
The suit contends that requiring the Minister's presence gives the Government de facto veto power over Board decisions, preventing codirectors from fulfilling their constitutional mandate. This comes amid uncertainty: Finance Minister Germán Ávila withdrew from the last Board session, raising questions on his attendance at the April meeting and whether codirectors can convene without him.
