Constitutional Court orders Banreservas to render accounts as public company

The Constitutional Court has ordered the government-owned Banreservas to render accounts as a public company. Recent cases filed by the Public Prosecutors Office have brought to the open major corruption cases involving officials of the state-owned commercial bank.

The Constitutional Court (TC) ruled that Banreservas, in its condition as an autonomous entity of public state, is obliged to submit to the dictates of the laws on transparency and the constitutional principles that govern public administration.

In the same sentence, it orders the bank to open the corresponding offices of access to public information, to comply with the public bidding processes for purchases and contracts, in compliance with the TC sentence, with the category of binding precedent for all public powers, in accordance with article 184 of the constitution.

Ruling TC/0185/22, dated 21 July 2022 establishes that despite the autonomous nature of the government entity, it is subject to laws 200-04 and 340-06, on access to public information and public procurement and contracting of goods and services with the state.

In addition to being subject to Article 138 of the Constitution, on the principles governing public administration, of efficiency, hierarchy, objectivity, equality, transparency, economy, publicity and coordination, with full submission to the legal order of the state.

The question is whether this Constitutional Court ruling will set a precedent for other autonomous institutions, such as the state university, that operate with a low level of accountability in their use of public funds.

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El Nacional

Diario Libre

1 August 2022