SANTO DOMINGO- Through decree 442-22, announced on his Twitter account, the President of the Republic, Luis Abinader, confirmed Héctor Valdez Albizu as governor of the Central Bank of the Dominican Republic.
The economist has held that position for 22 years. His first term ran from August 31, 1994, to August 16, 2000, and he returned on August 16, 2004, totaling 22 years at the helm of the Central Bank, making him the longest-serving governor in the position.
Under the tutelage of 74-year-old Albizu, the Dominican economy has registered a long period of macroeconomic stability, which has led several presidents of the Republic to keep him at the head of the main governing body.
He began his career at the Central Bank in 1970 as a technical assistant in the Economic Studies Department, eventually becoming the department's director from 1984 to 1986. Since then, he has held numerous positions within the institution, including: Deputy Manager of Monetary and Exchange Policy, 1986-1990; advisor to the Monetary Board, 1987-1989; representative of the Central Bank to the Board of Directors of the Reserve Bank of the Dominican Republic, 1991-1992; and Deputy General Manager, 1991-1993.
Upon assuming the presidency in 2020, Abinader entrusted Valdez Albizu with defining the country's monetary policies amidst the global crisis unleashed by COVID-19. Currently, the official faces the challenge posed by the conflict between Russia and Ukraine, which has generated inflation and global uncertainty.
