Guatemala's Monetary Board appoints new Banco de Guatemala authorities

The Monetary Board of Guatemala has appointed five new authorities for the Banco de Guatemala (Banguat) following the resignation of four management officials. This marks the first time the central bank's entire management body has undergone a complete turnover. Among those departing are long-serving officials, including General Manager Jorge Vinicio Cáceres Dávila, who served for 42 years.

These leadership changes follow the recent appointment of Jonathan Menkos as President of both Banguat and the Monetary Board for the 2026–2030 term. Menkos's designation has faced legal challenges via amparo resources filed with the Constitutional Court (CC).

In response to these legal challenges, President Bernardo Arévalo submitted a detailed report to the Constitutional Court to justify Menkos's appointment. The report addresses concerns regarding whether Menkos's previous role as a deputy constitutes an impediment. Arévalo noted that under Article 160 of the Constitution and Agreement 8-2024, Menkos was granted permission to leave his legislative duties to serve in the Executive branch, a practice intended to allow officials to maintain their parliamentary careers should they later leave government service.