Archive · 3 Dec 2025
Ecuador Central Bank Chief Resigns Early
The head of Ecuador's central bank, Guillermo Avellán, has decided to step down from his job more than a year before his term was supposed to end.
He said he wants to take on new professional challenges.
The central bank accepted his resignation and will be temporarily led by Juan Ponce while a new permanent leader is chosen.
Avellán had been in charge since 2019 and had introduced a new economic indicator just a few days before his resignation.
The central bank in Ecuador has limited powers because the country uses the US dollar as its currency.
Guillermo Avellán, Ecuador's central bank chief, resigned on November 27, 2023.
He had 1.5 years left in his six-year term.
Avellán cited new professional opportunities as his reason for resigning.
Juan Ponce will serve as interim chief while a permanent successor is chosen.
The central bank's role is limited due to Ecuador's use of the US dollar.
- Who
- Guillermo Avellán, Ecuador's central bank chief
- What
- Resigned from his position
- When
- November 27, 2023
- Where
- Ecuador
- Why
- To pursue other professional opportunities
- Resigned Official
- Guillermo Avellán
- Resignation Date
- November 27, 2023
- Term Length
- 6 years
- Remaining Term
- 1.5 years
- Replacement
- Juan Ponce (interim)
- New Economic Indicator
- Monthly economic activity indicator
- Central Bank Role
- Issuance of coins, payments, macroeconomic data