Bank Of Guatemala
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The Bank of Guatemala () is the
central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
of
Guatemala Guatemala, officially the Republic of Guatemala, is a country in Central America. It is bordered to the north and west by Mexico, to the northeast by Belize, to the east by Honduras, and to the southeast by El Salvador. It is hydrologically b ...
. It was established in 1945. Its headquarters is one of the most recognized
Brutalist Brutalist architecture is an architectural style that emerged during the 1950s in the United Kingdom, among the reconstruction projects of the post-war era. Brutalist buildings are characterised by minimalist constructions that showcase the b ...
themed architectural structures. Designed by architects José Montes Córdova and Raúl Minondo, the iconic bank stands within the heart of the city's civic center. In collaboration with Guatemalan artists Dagoberto Vásquez Castañeda and Roberto González Goyri, the design highlights its Mayan heritage through the decorative East and West facing façades. Standing at 40 meters high, the concrete structure, in its materiality, reflects the Brutalist movement and its emphasis on a
utilitarian design Utilitarian design is an art concept that argues for the products to be designed based on the utility (as opposed to the "contemplated pleasure" of beauty). For example, an object intended for a narrow and practical purpose does not need to be aest ...
approach, but also slightly combats the movement due to the unique details of its façade. The beautiful design expresses an ornate subtlety which pays homage to the artistic importance Guatemalan culture has had on its urban landscape.


Governance

Alvaro González Ricci has been President of the bank since January 2022.


Functions

The Bank of Guatemala, determined by its Organic Law, has the following functions: 1: Be the sole issuer of the
national currency Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, ...
; 2: Ensure that an adequate level of liquidity in the banking system is maintained, through the use of the instruments provided for in its Organic Law; 3: Ensure the proper functioning of the payment system; 4: Receive in deposit the bank reserves and legal deposits referred to in its Organic Law; 5: Manage international monetary reserves, in accordance with the guidelines issued by the Monetary Board; and 6: The other functions compatible with its nature as a Central Bank that are assigned to it by legal mandate.


Former Presidents of the Bank of Guatemala

# Manuel Noriega Morales (1946–1954) # Manuel Béndfeldt Jáuregui (1954) # Gabriel Orellana Estrada (1954–1958) # Gustavo Mirón Porras (1958–1960) # Arturo Pérez Galliano (1960–1966) # Francisco Fernández Rivas (1966–1970) # Augusto Contreras Godoy (1970–1974) # Manuel Méndez Escobar (1974–1978) # Plinio Alfredo Grazioso Barrilas (1978–1982) # Jorge González del Valle (1982) # Armando González Campo (1983) # Carlos Humberto Alpíre Pérez (1983–1984) # Oscar Alvarez Marroquín (1984–1985) # Jorge Luis Monzón Juárez (1985–1986) # José Federico Linares Martínez (1986–1987) # José Miguel Gaitán Ramírez (1987–1989) # Lizardo Arturo Sosa López (1989–1990) # Oscar Humberto Pineda Robles (1990–1991) # José Federico Linares Martínez (1991–1993) # Lizardo Arturo Sosa López (1993) # Willy Waldemar Zapata Sagastume (1993–1997) # Edin Homero Velázquez Escobedo (1997–2000) # Lizardo Arturo Sosa Ramirez (2000–2006) # María Antonieta Del Cid Navas de Bonilla (2006–2010) # Edgar Baltazar Barquín Dúran (2010–2014) # Julio Roberto Suárez Guerra (2014–2018) # Sergio Francisco Recinos Rivera (2018–2022) # Alvaro González Ricci (2022–''present'') Source: Bank of Guatemala


See also

* Ministry of Public Finance *
Economy of Guatemala The economy of Guatemala is a considered a developing economy, highly dependent on agriculture, particularly on traditional crops such as coffee, sugar, and bananas. Guatemala's GDP per capita is roughly one-third of Brazil's. The Guatemalan eco ...
*
Guatemalan quetzal The quetzal (; code: GTQ) is the currency of Guatemala, named after the national bird of Guatemala, the resplendent quetzal. In ancient Mayan culture, the quetzal bird's tail feathers were used as currency. It is divided into 100 ''centavos,'' ...
*
List of central banks This is a list of central banks. Central banks by alphabetical order This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*). Major central banks by currency allocation p ...


References


External links

*
Official site of Banco de Guatemala
*
Official site of Banco de Guatemala
* {{Authority control
Guatemala Guatemala, officially the Republic of Guatemala, is a country in Central America. It is bordered to the north and west by Mexico, to the northeast by Belize, to the east by Honduras, and to the southeast by El Salvador. It is hydrologically b ...
Economy of Guatemala Banks established in 1945 1945 establishments in Guatemala