CENTRAL AMERICAN MONETARY COUNCIL (CAMC)
Ofiplaza del Este Postal Add: Apartado 5438-1000 Edificio C Telephone: 280-9522 Segundo Piso Facsimile: 280-2511/281-0169 San José E-Mail: email@example.com Costa Rica Internet: www.secmca.org President: ... María Elena Mondragón de Villar
ESTABLISHMENT AND FUNCTIONS
Created by the Agreement for the Establishment of a Central American Monetary Union, which was signed on February 24, 1964 and became effective March 20, 1964, after ratification by the signatory Central Banks. The Council seeks, by a permanent system of consultation, to promote the coordination of monetary, credit, and exchange policies which would progressively form the basis of the Central American Monetary Union. The above-mentioned Agreement was replaced by the Central American Monetary Agreement, which became effective on October 25, 1974 and was modified on January 22, 1999.
5 Central Banks: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Dominican Republic.
The members of the Council are the Presidents of the Central Banks of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Dominican Republic. Each Central Bank also appoints an alternate representative. Since November 28, 2002 Dominican Republic becomes a member of the CAMC. The President of the Council is elected annually from within its membership on a rotational basis. The Council meets quarterly, but provision is made for extraordinary meetings.
There are three advisory committees: Monetary Policy, Capital Market and Legal Studies. Each Central Bank is represented by a representative and alternate on each committee.
An Executive Secretariat is presided over by an Executive Secretary who is elected by the Monetary Council for a term of four years. The most important functions of the Executive Secretariat are to prepare the technical studies requested by the Council, to coordinate the activities of the Committees, and to serve as official liaison between the Council and the other Central American economic integration entities and international organizations.
Executive Secretary: ... Miguel CHORRO Serpas Executive Subsecretary: ... Sergio RECINOS Rivera
Boletín Estadístico (Statistical Bulletin) (annual); Situación Económica de los Países Centroamericanos (Economic Situation of the Central American Countries) (annual); Serie de Estudios Técnicos
UPDATED: April 23, 2003