Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Colombia court annuls cenbank appointment over gender quota

Published 11/24/2022, 09:34 PM
Updated 11/24/2022, 10:30 PM
© Reuters. FILE PHOTO: Colombian Finance Minister Alberto Carrasquilla Barrera attends a tax reform bill debate at the congress building in Bogota, Colombia December 18, 2018. REUTERS/Luisa Gonzalez

© Reuters. FILE PHOTO: Colombian Finance Minister Alberto Carrasquilla Barrera attends a tax reform bill debate at the congress building in Bogota, Colombia December 18, 2018. REUTERS/Luisa Gonzalez

BOGOTA (Reuters) -Colombia's highest administrative court has annulled the appointment of central bank co-director Alberto Carrasquilla on the grounds that it violated a gender quota law, the court said on Thursday.

Carrasquilla was appointed in August last year by former president Ivan Duque, replacing Carolina Soto.

The court said in a statement on Twitter that the appointment disregarded a law that rules that women's participation at the highest decision-making levels should reach at least 30%.

"With five full-time members, the 30% gender quota had been met with two women," it said, adding that following Soto's resignation, a women should have been appointed.

"This did not happen, on the contrary, there were four men and a single woman representative."

The court said that there would be no appeal against its decision. The central bank could not be immediately reached for comment.

© Reuters. FILE PHOTO: Colombian Finance Minister Alberto Carrasquilla Barrera attends a tax reform bill debate at the congress building in Bogota, Colombia December 18, 2018. REUTERS/Luisa Gonzalez

The central bank's co-directors are appointed by the president, so the court's ruling opens the possibility for leftist President Gustavo Petro to name Carrasquilla's replacement.

The representatives have fixed terms of four years, which can be extended twice, meaning they can remain in office for up to 12 years.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.