President Hip?lito Mej?a has replaced his son-in-law, Juan Francisco Garrig? Matos, who had been appointed just last week as a member of the Monetary Board. Mej?a?s daughter, economist Carolina Mej?a, was appointed at the same time. Both she and her husband had been assigned to the board in the major reshuffling that occurred when Central Bank governor Frank Guerrero Prats was transferred to head the Ministry of Foreign Relations. In place of Garrig?, Mej?a appointed businessman Francisco (Paco) Garc?a as a full member of the board, promoting him from his category as back-up member. President Mej?a appointed businessman Julio Virgilio Brache Alvarez as back-up member in Garc?a?s place. Garrig? Matos is the president of Proseguro, the insurance branch of the Banco del Progreso.
Other Monetary Board members include Miguel Feris Iglesias, Manuel Jos? Cabral, Luis Manuel Piantini (former deputy governor of the Central Bank), Angel Rosario Vi?as, Carlos Aquino Gonz?lez, Hector R?zek Llabaly, and Francisco Garc?a. Back-up members are George Arzeno Brugal, Manuel Garc?a Ar?valo,l Frank Rainieri Marranzini, Pedro Antonio Rivera, Julio Virgilio Brache and Carolina Mej?a.