Leonardo Villar, manager of Banco de la República, stated the April board meeting cannot proceed if Finance Minister Germán Ávila does not attend. He warned such absence would pressure the central bank's autonomy following a recent disagreement. Villar expressed confidence that common sense will prevail.
Leonardo Villar, manager of Banco de la República, told Bloomberg Línea that Finance Minister Germán Ávila's presence is required for the April 30 board meeting to convene and decide on interest rates. "If he doesn't show up, we would have to see how the country's institutions can ensure the Constitution is respected," he said.
This comes after Ávila left the previous meeting early due to disagreement over an interest rate hike, followed by a press conference. Villar noted that challenges to the bank's independence harm investor perceptions, raise the government's borrowing costs—from around 9% to 13.6%—and unsettle markets.
Villar also expressed concern over core inflation, which rose from 4.85% in November 2025 to 5.51% in February 2026. He linked economic pressures to fiscal deterioration and warned that higher oil prices from Iran tensions could boost exports but fuel inflation through costlier fertilizers and food.
"I have a lot of confidence that common sense will prevail," Villar said regarding the upcoming meeting.
